Ark Katie Wood allows herself to buy Canadian bitcoin ETFs

Ark Investment Management Katie Wood allows one of her funds to invest in Canadian bitcoin ETFs, for the reason that, that the management company is looking for new ways to bet on digital assets.

Ark Katie Wood allows herself to buy Canadian bitcoin ETFs

Ark Katie Wood allows herself to buy Canadian bitcoin ETFs

Last week, the company applied for $5,7 млрд ARK Next Generation Internet ETF (ticker ARKW), by changing the fund's prospectus, to include a mention of the opportunity to invest in cryptocurrencies through the & quot; exchange-traded funds, registered in Canada ''.

This step was taken after, as it turned out last week, that the blockchain-focused Amplify Transformational Data Sharing ETF (BLOK) with capital in $1,3 billion owns a small share in three Canadian bitcoin ETFs.

Investors and issuers in the US ETF market are still waiting, when will regulators approve exchange-traded products for investing in cryptocurrencies?. While Canada and Europe took the lead, the Securities and Exchange Commission has accumulated a huge number of applications. Ark is among those, who is in line, by merging with the Swiss company 21Shares AG and applying for a fund in the USA.

ARKW already boasts some bitcoin share – about 5,5% fund invested in Grayscale Bitcoin Trust (GBTC), according to the data, compiled by Bloomberg. This fund with capital in $30 billion is, perhaps, one of the easiest ways for US investors to access cryptocurrencies through a fund, but its structure makes it ineffective, and its value is often at odds with the value of bitcoin.

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