Category Archives: Bitcoin Secondary Market

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..

 

Korean Based Bitcoin ETF joining ‘BIT’ and ‘COIN’ in race to become first publicly traded Bitcoin ETF

Via Leon Pick @ www.financemagnates.com

“The fund is to be launched by Korea Investment Trust Management, a Seoul-based asset management firm overseeing over $20 billion in investments”

“The fund could become the world’s first bitcoin ETF to trade on a fully regulated venue”

“The ETF would launch sometime next year, subject to the the approval of the Financial Supervisory Service (FSS), the country’s financial regulator”

Read more here…

[Editors note].. The Secondary market funds competing to be the first to offer retail investors Bitcoin ETF investment vehicles, could be key to providing the extra liquidity needed in the next potential bull market run in Bitcoin.

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