Ark Investment Management has revised its filing for the next generation internet (ARKW) exchange-traded fund with the US Securities & Exchange Commission. The amendment will allow ARK to invest in Canadian crypto ETFs.
ARK stated that its next-generation internet ETF would have exposure to crypto-assets, including Bitcoin, through investment vehicles, including Canadian ETFs.
ARK’s new filing document also indicated that the company could also consider investing in Grayscale Bitcoin Trust. According to Bloomberg ETF analyst Eric Balchunas, ARK could also be looking to replace its GBTC with a Canadian ETF.
ARK currently holds 8.5 million shares in Greyscale Bitcoin Trust, which is a 22 percent year-to-date drop. The firm CEO, Cathie Wood, has been an ardent supporter of Bitcoin. In partnership with 21Shares, Wood created BTC ETF earlier this year.
With the new filing with the security exchange commission (SEC), ARK will be able to track the performance of leading cryptocurrencies.
Wood believes that in the future, Bitcoin will be part of a balanced investment portfolio. She further added that if every 1 percent of cash in Corporate Company is converted to Bitcoin, the cryptocurrency will reach over $72, 000.
And if the cash level could further increase to 10 percent, the world-renowned cryptocurrency would reach over $400, 000.