The ARK CoinDesk 20 ex-Bitcoin Crypto ETF is a proposed exchange-traded fund from ARK Investment Management that aims to give investors exposure to the broader crypto market while stripping out bitcoin. ARK filed a Form S-1 for the fund with the SEC in January 2026, alongside a companion ARK CoinDesk 20 Crypto ETF, and expects shares to list on NYSE Arca. The fund is organized as a Delaware statutory trust. Rather than holding tokens directly, it would take long positions in CoinDesk 20 Index futures and offsetting short positions in CME Bitcoin futures, with the remaining assets held in cash and cash equivalents, primarily U.S. Treasuries.

The CoinDesk 20 Index tracks the 20 largest digital assets by market capitalization, excluding stablecoins, memecoins and certain other asset classes, and is rebalanced quarterly. Bitcoin is typically the largest weight in the index, so the short bitcoin futures leg is designed to neutralize that exposure. That leaves investors with a basket weighted toward assets such as ether, solana, XRP and cardano.