Cathie Wood’s Ark Raises $16.3M for New Private Crypto Fund

SEC filings show fundraises for two versions of the ARK Crypto Revolutions fund.

AccessTimeIconMar 15, 2023 at 8:12 p.m. UTC
Updated May 9, 2023 at 4:10 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Cathie Wood’s Ark Invest has raised over $16 million for a new crypto fund split between a domestic and a Cayman Islands-based version, according to filings with the U.S. Securities and Exchange Commission on Wednesday.

The ARK Crypto Revolutions U.S. Fund LLC raised $7,281,630 from nine investors, while the ARK Crypto Revolutions Cayman Fund LLC raised $8,993,330 from one backer. Both funds opened for investments on March 1, and the figures provided were the total amount sold. For the overall target, Ark checked “Indefinite,” meaning the fund is open-ended. Unlike many offerings from the Florida-based firm, these funds are private and open only to a small number of investors.

  • Why Worldcoin Is Launching a Layer 2
    20:07
    Why Worldcoin Is Launching a Layer 2
  • Polymarket Traders Bet on Fed Rate Cuts; Bitcoin Spot ETFs Register Five-Day Withdrawals Streak
    02:17
    Polymarket Traders Bet on Fed Rate Cuts; Bitcoin Spot ETFs Register Five-Day Withdrawals Streak
  • Base Monthly Active Addresses Increased by 160% in March: Nansen
    00:50
    Base Monthly Active Addresses Increased by 160% in March: Nansen
  • Bitcoin Halving: We Answer Your Questions
    04:16
    Bitcoin Halving: We Answer Your Questions
  • The filings were released days after Ark added 301,437 more shares of crypto exchange Coinbase (COIN) to the ARK Innovation ETF (ARKK) and 52,525 shares to its Next Generation Internet ETF (ARKW), a purchase valued at $20.6 million based on Coinbase’s closing price last Thursday. Ark has been steadily buying shares of Coinbase for its exchange-traded funds since the beginning of the year.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.