Cathie Woods Ark Invest just joined the Bitcoin ETF race

Cathie Wood’s Ark Invest has filed for a Bitcoin ETF, but the SEC has yet to approve a crypto ETF as we can see more on our latest Bitcoin news today.

Cathie Woods Ark Invest joined the Bitcoin race after applying for the NFT as a longtime Bitcoin fan. Ark Invest is an investment management firm led by Cathie Wood, and the Ark21Shares ETF is the latest addition to a growing list of applications for crypto ETFs that has not yet surpassed the industry. The SEC is currently reviewing WisdomTree, Fidelity, Kryptoin, VanEck, and SkyBridge Capital BTC ETF filings by Anthony Scamamucci.

Since ETFs are traded on traditional exchanges, institutions like these see BTC ETFs as a way to attract investors. The ETF proposed by Ark Invest is traded on the Cboe BZX exchange. Wood, on the other hand, has spoken out in favor of BTC in the past, and during her reign, Ark invested in Coinbase and the Grayscale BTC Trust.

As reported, ARK Invest bought over 1 million shares of the Grayscale BTC trust fund, which will be huge if BTC falls below $ 30,000. According to the firm, 1,046 GBTC was added through the Ark Next Generation Internet ETF as one of the company’s six actively managed funds. This purchase brings ARKW’s total holdings of shares to nearly 8.6 million shares valued at $ 238 million, making GBTC the 7th largest holding in the fund at 3.99%, followed by Shopify, Tesla and Twitter. GBTC manages $ 21.9 million in assets as the oldest and largest crypto fund launched by New York firm Grayscale Investment, offering investors exposure to BTC under SEC regulation and tracking the price of the standard cryptocurrency . One GBTC share is currently trading at $ 28.96.

Wood joined the board of directors of crypto-tech platform Amun Holdings, known as a strong supporter of BTC, last month and sees it climb to $ 500,000 in the long run. Wood joined the board of directors of Amun Holdings last month as he is known as the strongest proponent of BTC and sees it climb even higher. Earlier this year, she said that BTC is a new asset class that will act as a reserve currency.

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