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Cathie Wood's ARK Invest files to offer a bitcoin ETF

Reuters2021-06-29

June 28 (Reuters) - Star stock picker Cathie Wood's ARK Invest filed with the U.S. Securities and Exchange Commission on Monday to create a bitcoin exchange traded fund $(ETF)$, the latest fund manager attempting to cash in on investors' growing interest in cryptocurrencies.

Wood, whose ARK Innovation ETF was the top-performing U.S. equity fund last year, has been a vocal proponent of bitcoin.

Her flagship ARK Innovation fund owns around $820 million worth of shares in cryptocurrency exchange Coinbase Global , making it the fund's 10th largest holding. Coinbase has fallen 35% since its stock market debut in April.

ARK's application to the SEC follows recent filings by Fidelity and CBOE Global Markets in March. The SEC has yet to approve a bitcoin ETF.

Bitcoin tumbled in recent days to a two-week low as China's expanding crackdown on bitcoin mining made investors more uncertain about the future of the leading cryptocurrency. Bitcoin on Monday traded at about $34,450, compared to its April peak of nearly $65,000.

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Comment55

  • yvneyng
    ·2021-06-29
    So ready for this new Ark offering. [Miser] @Jetblackeyes
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  • Sephy
    ·2021-06-29
    Auntie mama my idol !
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    • S土豪熊貓G
      YeS, Kudos to her to turn arround Crypto Coin. seem like dYing and sunsetting and she turn around it with a Thanos Click of Finger.
      2021-06-29
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  • zero79
    ·2021-06-29
    Good? 
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  • linrui
    ·2021-06-29
    Looking forward. 
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  • Hengfc
    ·2021-06-29
    Gogogo
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  • Harry1010
    ·2021-06-29
    Great
    Reply
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  • Vv99
    ·2021-06-29
    Bitcoin Etf? This could be a game Changer..Looking forward for this 
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    • yvneyng
      Agreed
      2021-06-29
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    • ZEROHERO
      She must plan for her prediction of 500k BTC price target to come true ?
      2021-06-29
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    • Bructor
      Huat ar
      2021-06-29
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  • Bructor
    ·2021-06-29
    Izzit time to buy Bitcoin? 
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    • Bructor
      Thanks CK!
      2021-07-01
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    • Bructor
      Please Comment like and follow! Tq [Cool]
      2021-06-29
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    • CK_____
      yes
      2021-06-29
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  • ShawnKoh1
    ·2021-06-29
    Like and comment pls
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  • CK_____
    ·2021-06-29
    Bitcoin will be bullish again??? GBTC ?????
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    • Bructor
      Fly Fly fly!!!
      2021-06-29
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  • eyescold
    ·2021-06-29
    Nice
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  • Alright
    ·2021-06-29
    Wow. Keeping my eyes open on this one
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  • BiErGaiShi
    ·2021-06-29
    too much cash in ARK funds.. 
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  • CK_____
    ·2021-06-29
    ??? GBTC ??? 
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    • Kh1992
      Nice
      2021-06-29
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  • Alcho
    ·2021-06-29
    Nice...
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  • Gerayld
    ·2021-06-29
    :0
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  • KCtan1688
    ·2021-06-29
    K
    Reply
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  • KCtan1688
    ·2021-06-29
    K
    Reply
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  • ShuJie
    ·2021-06-29
    Follow 
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    • HMian
      Ok
      2021-07-09
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  • nayoowin
    ·2021-06-29
    Good
    Reply
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