Crypto Currency News

ARK Invest materializes its interest in bitcoin in the Grayscale fund

The financial company bought more than 180 thousand shares of Grayscale Bitcoin Trust.

Financial ARK Invest announced an institutional investment in the crypto market. The firm led by Catherine Wood acquired more than 180 thousand shares of Grayscale Bitcoin Trust through one of its exchange-traded funds (EFT) and materialized the discursive optimism of its CEO, expressed last week after the fall in the price of bitcoin (BTC).

According to the latest investment report from the financial company, the ARK Next Generation Internet ETF bought 181,995 shares of Grayscale Bitcoin, in what was an operation for approximately 5.7 million dollars .

ARK has seen 85% growth in the last year , and crypto currencies have gained prominence among corporate business strategies.
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However, it also acquired shares in other large companies such as Draftkings (121,537), Twitter (245,260), among others.
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Last week , as BTC navigated between yearly lows, Wood suggested that it was an auspicious time to make new investments in the market . The businesswoman assured that BTC was “for sale” , since the price was considerably lower than the historical maximum, and what merchants expect. Furthermore, he forecast a BTC price at $ 500,000 .

” It’s a really great time to buy , no matter what the asset is, ” Wood said in an interview on CNBC, while insisting on the approval of BTC ETFs. The United States Securities and Exchange Commission (SEC) is currently analyzing its authorization and, if approved – according to Wood – it would give the crypto currency the “maturity” necessary to get its growth back on track.

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