The total assets of Cathie Wood’s funds are shrinking rapidly, and the flagship ETF has fallen 16% this year
Investors have withdrawn a net amount of $2.2 billion from the six actively managed exchange-traded funds (ETFs) managed by Cathie Wood's ARK Investment Management company since the beginning of this year. The total assets of the funds have fallen by 30% to $11.1 billion in less than four months, compared to the peak of $59 billion reached by ARK at the beginning of 2021. Todd Rosenbluth, director of research at data provider VettaFi, said that this year should be a relatively good year for ARK, but they have concentrated their investments in poorly performing companies. The flagship fund, ARK Innovation, has fallen by 16%, mainly due to its concentration on a few stocks: Tesla, its largest holding, has fallen more than 40% this year; other major holdings such as Roku (down 33%) and Unity Software (down 44%) have also dragged it down. According to Morningstar data, as of the end of last year, ARK funds have lost more wealth than any other asset management company in the past 10 years, with investors losing a total of $14.3 billion.
Cathie Wood: Bitcoin will rise to $1.5 million by 2030
HashKey Capital CEO DC and ARK Invest's CEO and Chief Investment Officer Cathie Wood held a roundtable discussion at the Web3 Summit in Hong Kong. When asked about her predictions for Bitcoin prices, Cathie Wood stated, "I've been asked from different angles, our prediction for 2030 is $1.5 million, which is our bull market prediction, and now it's at $66,000. If it was last year, I would have said $600,000, but now we've raised it to $1.5 million because the SEC has given institutional investors the green light to issue BTC spot ETFs. The optimal allocation, if institutions allocate 5% of their assets to Bitcoin, the price will rise to $1.5 million."
Cathie Wood’s latest prediction: Bitcoin could hit $3.8 million
Cathie Wood said at the Bitcoin Investor Day conference held in New York on Friday that in a bullish scenario, the price of Bitcoin could reach $3.8 million, which is more than $2 million higher than her previous prediction. Wood said, "Last year, we predicted that Bitcoin would reach $1.5 million in a bullish scenario. The SEC has given institutions the green light, and although it is indeed reluctant, our analysis shows that over time, if institutional investors allocate slightly more than 5% of their investment portfolios to Bitcoin, as we believe, this alone will increase the forecast I just gave you by $2.3 million."Wood also said she expects the upcoming "halving" to have a similar impact as previous events.
Cathie Wood: At least 25% of financial net worth is in Bitcoin
Cathie Wood, CEO of Ark Invest, stated that excluding companies and real estate, it is estimated that at least 25% of financial net assets are in Bitcoin.
Cathie Wood: Gary Gensler’s political ambitions are the reason Bitcoin spot ETFs are blocked
Cathie Wood, CEO of ARK Invest, said in an interview with CNBC that it is difficult to come up with a reasonable explanation for SEC Chairman Gary Gensler's opposition to spot ETFs for Bitcoin, given his extensive knowledge of Bitcoin. Prior to serving as SEC Chairman, Gensler taught cryptocurrency and blockchain courses at the Massachusetts Institute of Technology (MIT).
Cathie Wood: Cryptocurrency will reach $25 trillion by 2030
According to an interview with CNBC, Cathie Wood, CEO of ARK Invest, made a prediction that the size of the cryptocurrency ecosystem is expected to reach a staggering $25 trillion by 2030. <br>
Cathie Wood’s Ark Invest Sells $3.3 Million in Coinbase Shares, $2.5 Million in GBTC
October 24th, Cathie Wood's Ark Invest sold shares of Coinbase Global Inc and purchased shares of Robinhood. It is reported that Ark Invest sold a total of 42,613 shares of Coinbase through the ARK Next Generation Internet ETF and Ark Fintech Innovation ETF, with a transaction value of approximately $3.3 million. In addition, Ark Invest also sold 100,739 shares of Grayscale Bitcoin Trust, with a transaction value of approximately $2.5 million.
Cathie Wood: Coinbase’s Integration With Lightning Network May Reach 100 Million Users
Coinbase CEO Brian Armstrong announced that the platform has decided to integrate the Lightning Network. Cathie Wood, founder of Ark Invest, wrote on social media that Bitcoin is the world's digital currency system and the Lightning Network is its payment layer.
Cathie Wood Predicts $25 Trillion Crypto Market Valuation in 2030 Fueled by Institutional Bidding: Report
Cathie Wood, CEO of ARK Invest, has predicted that the total market capitalization of cryptocurrencies will increase by over 2,100% in less than seven years. Wood believes that financial institutions will begin investing heavily in Bitcoin and other digital assets, leading to a surge in the crypto market cap. She suggests that the approval of a Bitcoin exchange-traded fund (ETF) could be a catalyst for institutional investment, and the recent victory of Grayscale against the SEC may increase the chances of ETF approval. Wood predicts that institutional investment could raise the current $1.13 trillion crypto market cap to as high as $25 trillion by 2030, with Bitcoin comprising more than half of that total market cap.
Cathie Wood predicts SEC will approve multiple spot Bitcoin ETFs at once
Cathie Wood, founder and CEO of ARK Investment Management, has suggested that the SEC will approve multiple spot Bitcoin ETFs at the same time. In an interview with Bloomberg, Wood predicted that if the SEC moves forward with any application currently under consideration, it will approve "more than one [ETF] at once." Grayscale has also proposed that all proposed spot Bitcoin ETFs be approved at the same time to avoid one having an advantage over another. The SEC has received crypto ETF applications from Invesco, BlackRock, Valkyrie, VanEck, Wisdom, Fidelity, and ARK Invest.
