Cathie Wood’s Ark Invest Buys the Bitcoin Dip, Adds $20 Million in GBTC
Without a doubt, Cathie Wood has been one of the most vocal proponents of Bitcoin’s technology and value on Wall Street. Her fund Ark Invest was the first ever institutional fund to invest in through Grayscale Bitcoin Trust (GBTC) in 2015, which was when Bitcoin was only worth 200 dollars. One of Wood’s signature funds, […]
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Throughout the years, ARK Invest CEO Cathie Wood has been a fan of blockchain technology and cryptocurrencies. In fact, Ark was the first ever public fund to invest in Bitcoin back in 2015 through the Grayscale Bitcoin Trust (GBTC). With cryptocurrency exchange giant Coinbase direct listing on the NASDAQ earlier last week, Wood’s various ARK […]
Cathie Wood’s Ark Investment Management has reportedly purchased $19,872,939 worth of bitcoin.
Three exchange-traded funds offered by Cathie Wood’s Ark Invest added a total of 341,186 shares in Coinbase (COIN) worth a combined $110 million on April 15. Three exchange-traded funds, or ETFs, offered by Cathie Wood’s Ark Invest, including the flagship Ark Innovation ETF, all added further shares in Coinbase Global Inc. (COIN) to their positions on Thursday, April 15.According to a report from Reuters, the Ark Innovation ETF, Ark Next Generation Internet ETF, and Ark Fintech Innovation ETF purchased a combined total of 341,186 shares, valued at $110 million at the close of trading on....
She cited an investigation into tax ramifications as one of Ark Invest’s reasons for withholding for now. Ark Invest founder and CEO Cathie Wood did not invest in the ProShares Bitcoin Strategy Exchange Traded Fund, or ETF, on opening day, according to Business Insider. Wood said about the ETF’s debut:“No, we did not [invest]. We’re looking at this very carefully […] there are some tax ramifications we’d like to understand more having to do with contango versus more normal backwardation.”The contango of the ETF refers to when the future price of the commodity is higher than the spot price.....
Cathie Wood's Ark Invest purchased more than 450,000 GBTC shares in two separate buys this week. As the price of Bitcoin returned to more than $32,000 this week, some major firms announced they had increased their exposure to cryptocurrencies through Grayscale’s crypto trusts.According to a Friday filing with the U.S. Securities and Exchange Commission, or SEC, New York-based investment firm Edge Wealth Management currently holds 54,134 shares of Grayscale’s Bitcoin Trust (GBTC), valued at $27.13 at the time of publication, and 25,280 shares of the company’s Ethereum Trust (ETHE). The....