Investing

Cathie Wood's ARK Invest Buys Over 300,000 Shares of a Bitcoin Play

Chris Lange

Published: July 20, 2021 9:15 am

Last Updated: July 20, 2021 9:20 am

One of the ARK Invest exchange-traded funds run by ETF star Cathie Wood made a sizable purchase on Monday. The fund bought over 300,000 shares of Grayscale Bitcoin Trust (GBTC), as the price of this ETF was relatively flat on the day. Note that this fund is still up significantly in the past year.

Specifically, ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 310,067 shares of Grayscale’s Bitcoin Trust. At Monday’s closing price, this would have valued this purchase at roughly $7.8 million. Even though this is a small fraction of the fund’s total holdings, every little bit counts. The fund is up 51% in the past year.

Here’s a look at all the other purchases across the ARK ETFs:

Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.