Ark Invest, led by Cathie Wood, has submitted multiple applications to the Securities and Exchange Commission (SEC) for new Bitcoin exchange-traded funds (ETFs). These filings include the ARK Bitcoin Yield ETF, ARK DIET Bitcoin 1 ETF, and ARK DIET Bitcoin 2 ETF. The SEC approved generic listing rules for crypto ETFs earlier this year, simplifying the approval process for similar products. This move allows Ark Invest to expand its Bitcoin ETF offerings and aims to generate income for investors from Bitcoin-related strategies while reducing volatility. The ARK Bitcoin Yield ETF will provide yield through options strategies, not solely by tracking BTC price. Meanwhile, the ARK DIET Bitcoin 1 ETF offers downside protection of 50% but participates only on the upside after a 5% increase in BTC’s value. The ARK DIET Bitcoin 2 ETF provides downside protection for the first 10% decline and participates in Bitcoin’s upside when its price surpasses its beginning-of-period value. The SEC approval for these generic listing rules, which streamline the process and shorten timeframes significantly, could lead to a surge of new crypto products, especially ETFs that extend beyond Bitcoin and Ethereum, according to analysts.