What You Need to Know
- In an SEC filing, the firm tweaked the prospectus of the ARK Next Generation Internet ETF (ARKW).
- The move comes after the $1.3 billion Amplify Transformational Data Sharing ETF (BLOK) was shown to have a tiny stake in three Canadian Bitcoin ETFs.
- ARKW already has Bitcoin exposure through the Grayscale Bitcoin Trust, but its value frequently detaches from that of Bitcoin.
Cathie Wood’s Ark Investment Management is allowing one of its funds to invest in Canadian Bitcoin ETFs as the money manager seeks fresh ways to bet on digital assets.
In a late-Friday filing for the $5.7 billion ARK Next Generation Internet ETF (ticker ARKW), the firm tweaked the fund’s prospectus to include reference to holding exposure to cryptocurrencies via “exchange-traded funds domiciled in Canada.”
The move comes after the $1.3 billion Amplify Transformational Data Sharing ETF (BLOK), a blockchain-focused product, was last week shown to have a tiny stake in three Canadian Bitcoin ETFs.
ARKW already boasts some Bitcoin exposure — about 5.5% of the fund is invested in the Grayscale Bitcoin Trust (GBTC), according to data compiled by Bloomberg.