ARK Invest ramps up cryptocurrency holdings ahead of Bitcoin halving

Cathie Wood, ARK Invest.

22nd April 2024 – (St. Petersburg, Florida) Cathie Wood’s ARK Invest has significantly increased its stakes in cryptocurrency assets, signalling a strong bullish outlook just before the Bitcoin halving event. The hedge fund’s recent acquisitions included 139,152 units of its ARK 21Shares Bitcoin ETF, valued at approximately $8.96 million, closely following a larger purchase of $31.19 million in the same ETF.

In addition to its Bitcoin-focused investments, ARK Invest diversified its cryptocurrency portfolio by acquiring 41,068 shares of the ProShares Ether Strategy ETF (EETH), with an investment worth around $2.78 million. This purchase came after the fund had already invested another $2.9 million in EETH shares on 18th April.

While bolstering its cryptocurrency holdings, ARK also made some disposals, selling 28,936 shares of the ProShares Bitcoin Strategy ETF (BITO) for about $803,552.

These transactions, particularly significant due to their timing just hours before the Bitcoin halving, underscore ARK’s commitment to the cryptocurrency market despite the event’s typically subdued immediate impact on market sentiment. Cathie Wood, in her recent statements, reaffirmed her confidence in Bitcoin’s long-term value, a sentiment reflected in the aggressive positioning of her fund in the cryptocurrency sector.

ARK Invest is also expanding its influence in Europe with the launch of its first three European UCITS ETFs. These funds were listed on Deutsche Borse Xetra on 18th April and are expected to debut on additional European exchanges shortly, marking a significant step in ARK’s global expansion and its commitment to pioneering investment in transformative technologies.