Cathie Wood's Ark Invest Boosts Portfolio With 1% Of Its Own Bitcoin Spot ETF
Portfolio Pulse from Khyathi Dalal
Cathie Wood's Ark Invest has purchased 365,427 shares of its own ARK 21 Shares Bitcoin ETF (ARKB), which now represents 1% of the ARK Next Generation Internet ETF (ARKW). This move follows the sale of $16 million in ProShares Bitcoin ETF (BITO) by ARKW. Wood has disclosed that Bitcoin makes up at least 25% of her personal net worth, excluding Ark and real estate. The total volume for spot Bitcoin ETFs in three days was $9.68 billion, with iShares Bitcoin Trust (IBIT) leading in fund inflows and Grayscale Bitcoin Trust (GBTC) experiencing significant outflows. Wood has a history of including her own ETFs within other Ark funds, as seen with the 3D Printing ETF (PRNT) in the Ark Space Exploration and Innovation ETF.
January 17, 2024 | 9:38 pm
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POSITIVE IMPACT
ARKB, the ARK 21 Shares Bitcoin ETF, has been added to the ARK Next Generation Internet ETF (ARKW) portfolio, representing 1% of ARKW.
The purchase of ARKB by ARKW is a direct investment decision by Ark Invest, likely to increase investor interest and potentially the price of ARKB in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
iShares Bitcoin Trust (IBIT) reported the highest fund inflows with $497.7 million over two days.
High fund inflows into IBIT suggest strong investor interest, which could positively influence its price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
NEUTRAL IMPACT
ARKW has adjusted its portfolio by selling $16 million of BITO and purchasing shares of ARKB.
While ARKW's purchase of ARKB could be seen as positive, the sale of BITO and the internal nature of the purchase make the short-term impact on ARKW's price more neutral.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
Ark Funds' 3D Printing ETF (PRNT) has been included in the Ark Space Exploration and Innovation ETF, following a pattern of Ark including its own ETFs within other funds.
The inclusion of PRNT in another Ark fund is part of a recurring strategy by Ark Invest, with a neutral short-term impact expected on PRNT's price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
ARKW has sold $16 million worth of its position in the ProShares Bitcoin ETF (BITO).
The sale of BITO by ARKW could indicate a lack of confidence or a strategic shift, potentially leading to a negative short-term impact on BITO's price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
Grayscale Bitcoin Trust (GBTC) has experienced an outflow of $579.14 million.
The substantial outflows from GBTC could reflect a negative sentiment among investors, likely leading to a decrease in its price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60