ARK Invest Becomes First Public Fund Manager to Invest in Bitcoin

Via prnewswire.com..

[Editors note] This is a significant development that could lead to more public funds gaining exposure to Bitcoin; which in turn could fuel retail investment demand in the future. Please also check out my article on Bitcoin retail investment, where I discuss this in more detail.

  • “ARK believes that bitcoin, a digital currency, could disrupt the $500 billion intermediary payment platform industry which includes credit cards, electronic payments and remittances, and might empower the creation of a new group of companies and industries.”
  • “ARK Investment Management LLC (ARK), an active manager of thematic exchange-traded funds (ETFs), is pleased to announce that the ARK Web x.0 ETF (NYSEARCA: ARKW) has become the first ETF to invest in bitcoin. ARK has made its investment for ARK Web x.0 ETF through the purchase of publicly traded shares of Grayscale’s Bitcoin Investment Trust (OTCQX: GBTC)”

Read more here..

 

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