Cathie Wood’s Arkk Fund Dumped Nvidia Just Before Historical Bull Run
Cathie Wood's Ark Invest sold all of its NVIDIA shares in January, just before the company's impressive price jumps. Recent SEC filings confirm the selloff, causing the investment firm to miss out on potential gains. Despite this, Wood remains a supporter of Web3.0 companies and Bitcoin.
US at Risk of Losing Leading Position in Global Crypto Ecosystem to Other Countries
According to Ark Invest analyst Yassine Elmandjra, the United States is in danger of losing its position as a leader in the global cryptocurrency ecosystem to countries such as the United Arab Emirates, South Korea, Australia, and Switzerland. Elmandjra cites a significant decline in crypto liquidity in the US, which has led to a lack of interest among institutional investors.
Cathie Wood Encourages Graduates to Embrace AI and Blockchain as Transformative Technologies for the Future
Cathie Wood, CEO of ARK Invest, recently congratulated the Class of 2023 at the University of Southern California Marshall School of Business. During her speech, she suggested that disruptive technologies like artificial intelligence (AI) and blockchain could transform the world more in the next 5-10 years than the personal computer, cellphone, and internet did during her 42-year investment lifetime.
ARK Invest Holds $2.4B Stock With Crypto Exposure
ARK Invest's actively-managed ETFs had more than $11 billion in assets under management this week, and the firm's bitcoin bullishness has extended to other cryptocurrency sectors. Blockworks analyzed ARK's entire ETF portfolio over the past two years to determine how bullish Wood's firm has been on Coinbase over the long haul, as well as additional equities with crypto exposures. The analysis shows that Coinbase was the firm's second-most favored stock across that period, slightly ahead of Zoom and DraftKings. ARK also holds other stocks impacted by the ebbs and flows of crypto markets, including Robinhood, Block, Nvidia, Tesla, Grayscale Bitcoin Trust, and failed crypto bank Silvergate. Overall, weight for ARK's crypto-exposed stocks has jumped 55 percentage points over the past two years, from under 14% to 21%.
Ark Invest Adds $8.4M in Coinbase Shares, Remains Bullish
Ark Invest, the U.S. investment management firm led by Cathie Wood, has acquired more Coinbase shares, adding 129,604 shares worth over $6.4 million to its Ark Innovation ETF. The firm also added 23,456 shares to its Ark Next Generation Internet ETF and 15,809 shares to its Fintech Innovation ETF -- worth over $1.1 million and $790,000, respectively.
Crypto Evening Briefing: S Korean MPs to Create Law that Distinguishes CBDCs from Crypto
South Korea is reportedly moving closer to launching a central bank digital currency (CBDC), with a new draft law set to create legal terminology for CBDCs.
Cathie Wood’s Ark Invest Buys $8.6 Million in Coinbase Stock As Crypto Exchange Sues SEC
Ark Invest, run by CEO Cathie Wood, purchased more shares in Coinbase Global Inc. on the same day the US-based crypto exchange announced it was suing the Securities and Exchange Commission. The ARK Innovation ETF purchased 122,083 shares, the ARK Next Generation Internet ETF added 20,327 shares, and the ARK Fintech Innovation ETF bought 14,633 shares, totaling nearly $8.6 million at current prices. Coinbase's lawsuit against the SEC follows a petition for a rulemaking that the company filed with the US securities regulator last summer, seeking a yes or no on its request for the commission to draft and approve a digital asset-specific rule. Coinbase can file another lawsuit to make a federal court force the SEC to make a new rule if the regulator declines.
ARK Invest CEO Foresees Booming Adoption for Bitcoin and Ethereum as Safe Havens
Catherine Wood, Founder, CIO, and CEO at ARK Investment Management, LLC (aka “ARK” or “ARK Invest”), predicts a seismic shift in the financial landscape as Bitcoin and Ethereum emerge as the new safe havens.
Bitcoin, Ether are ‘like gold’ says Cathie Wood, but Ray Dalio is skeptical
Recent turmoil in the banking sector has shown that Bitcoin (BTC) and Ether (ETH) can withstand a shaky economy, outperform other asset classes and function like gold, says ARK Invest chief executive Cathie Wood — though one long-time investor still isn’t sold.
Bitcoin Approaches $31,000 as Analysts Predict $1 Million Value in Coming Years
Bitcoin has surged in the past week and is now approaching the $31,000 mark. Several analysts have predicted that Bitcoin will continue to rise in the coming years, with some even suggesting that it could reach $1 million in the next 10 years.
