Cathie Wood Led Ark Invest Acquires More Crypto-Related Stocks

• On January 29, ARKW spent $2.5 million for 58,468 ARKB units.
• Up until February 2nd, ARKB had 15,890 bitcoin, valued at $684.18 million.

Ark Invest, led by Cathie Wood, has been buying up cryptocurrency-related stocks, including its Ark 21Shares spot Bitcoin ETF (ARKB). Last week, the ARK Next Generation Internet ETF (ARKW) spent $51 million buying 1.27 million ARKB units.

The ARK Next Generation Internet ETF (ARKW) managed by Cathie Wood maintained its acquisition of the Ark 21Shares spot Bitcoin ETF (ARKB) over the week. There were a lot of earnings reports this week, but ARKW didn’t sell ProShares Bitcoin Strategy ETF (BITO) for ARKB.

Balancing Portfolio

On January 29, ARKW spent $2.5 million for 58,468 ARKB units. Additionally, ARKW and ARK Innovation ETF (ARKK) invested millions of dollars in Tesla stock. ARKK’s Tesla (TSLA) holdings are valued at more than $600 million.

According to ARK Invest’s holdings data, the ARK Next Generation Internet ETF has 2,480,644 ARKB shares valued at $106,816,530. The funds also sold off 285,167 shares of their ProShares Bitcoin Strategy ETF (BITO), bringing the total value to $5.81 million. Presumably, it will maintain its current shares in BITO.

Up until February 2nd, ARKB had 15,890 bitcoin, valued at $684.18 million, according to statistics from Ark Invest. Shares of Tesla (TSLA) and Robinhood Markets (HOOD) worth millions of dollars were added to Ark Invest funds ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW) this week.

As of February 2nd, ARKK owned 87,721 TSLA shares and 39,572 HOOD shares. ARKW acquired 27,090 TSLA shares and 8,354 HOOD shares. To highlight the efficacy of diversifying and balancing conventional assets, Ark Invest had raised its Bitcoin allocation for 2023 from 6.2% to 19.4%. 

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