Bitcoin
$44,885.31+2.89%
Ethereum
$3,146.88+2.79%
XRP
$0.998383-0.13%
Cardano
$2.31+3.03%
Polkadot
$33.39+5.58%
Stellar
$0.300422+2.95%
Dogecoin
$0.224170-0.13%
Chainlink
$25.28+4.14%
Uniswap
$21.52+0.04%
Algorand
$2.00+8.79%
Polygon
$1.22+0.50%
Cosmos
$41.98+5.47%
Litecoin
$163.62+1.69%
Bitcoin Cash
$551.39+0.86%
Wrapped Bitcoin
$44,894.60+2.79%
Filecoin
$74.41+0.07%
The Graph
$0.731835-0.74%
Tron
$0.098897+0.36%
Ethereum Classic
$51.13-0.07%
Tezos
$6.23+12.00%
Aave
$307.21+1.91%
Monero
$248.84+1.69%
NEO
$43.87+2.19%
EOS
$4.37+2.16%
IOTA
$1.38+1.77%
BitTorrent
$0.003527+0.36%
Bitcoin SV
$145.85-0.85%
Waves
$25.04+1.02%
Maker
$2,483.30-1.12%
Dash
$183.24+4.59%
Decentraland
$0.765703+4.26%
Decred
$120.36+2.39%
ICON
$1.70+2.72%
NEM
$0.162654+2.85%
Zcash
$122.05+1.15%
OmiseGO
$9.88+2.95%
NuCypher
$0.295592+1.25%
Paxos Standard
$1.00+0.02%
Yearn Finance
$31,141.86+2.26%
Qtum
$10.92+1.19%
Bitcoin Gold
$56.72+0.99%
Basic Attention Token
$0.701269+2.66%
0x
$0.990189+3.29%
Fetch.ai
$0.846851+14.27%
Ren
$0.885118+6.26%
Kava.io
$5.95+7.61%
Bancor
$3.69+2.29%
Band Protocol
$8.04+2.63%
Siacoin
$0.016334+1.99%
Nano
$5.08+1.98%
Loopring
$0.410454-0.05%
Civic
$0.524000+22.76%
Storj
$1.19+3.58%
Numeraire
$42.96+2.76%
Lisk
$3.10+0.77%
Orchid
$0.349864-0.23%
PAX Gold
$1,756.37-0.92%
Enzyme
$143.50-5.98%
Augur
$22.82+1.28%
Aragon
$5.16-0.36%
district0x
$0.162897+3.93%
Kyber Network
$1.59+2.14%
SingularDTV
$0.001375-0.66%
Tether
$1.00+0.01%
USD Coin
$0.999875+0.00%
Dai
$1.00-0.01%

Ark Investment Management Opens Door for Fund to Invest in Canadian Crypto ETFs

The Cathie Wood-founded firm disclosed the move through a revised prospectus with the SEC.

Sep 11, 2021 at 9:05 p.m. UTC
Updated Sep 13, 2021 at 2:05 p.m. UTC

Ark Investment Management revised the prospectus for its ARK Next Generation Internet ETF (ARKW) to open the possibility of investing in crypto exchange-traded funds (ETFs) in Canada, according to a filing with the U.S. Securities and Exchange Commission (SEC) Friday.

  • “The fund may have exposure to cryptocurrency, such as bitcoin, indirectly through an investment in a grantor trust or in other pooled investment vehicles, such as exchange-traded funds domiciled in Canada,” the investment management firm founded by crypto bull Cathie Wood wrote, replacing previous language.
  • The amended document further says that the fund may invest in the Grayscale Bitcoin Trust (GBTC) or “other pooled investment vehicles that invest in bitcoin, such as exchange-traded funds that are domiciled and listed for trading in Canada (Canadian Bitcoin ETFs).” Grayscale is part of Digital Currency Group, CoinDesk’s parent company.
  • In a series of tweets, Bloomberg ETF analyst Eric Balchunas speculated that Ark was looking to replace ARKW’s investment in GBTC with a Canadian ETF. ARKW holds over 8.5 million shares of GBTC, making it the second-largest holding in the fund.
  • Balchunas noted that GBTC is down 22% year to date, while the Canadian ETF has dropped 6%. “That’s pretty significant dispersion,” he wrote. “I’m sure that’s irking them.”

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...