Cathie Wood Is Making a Bigger Bet on Bitcoin
All roads seem to lead to Bitcoin (CRYPTO: BTC) for ARK Invest's Cathie Wood these days. Last week she was adding to her existing positions in Grayscale Bitcoin Trust (OTC: GBTC) and Coinbase Global (NASDAQ: COIN). Now Wood has an even bigger crypto play in mind.
A preliminary prospectus has been filed for the ARK 21Shares Bitcoin ETF, an exchange-traded fund that will own Bitcoin tokens. Similar to Grayscale Bitcoin Trust and Osprey Bitcoin Trust (OTC: OBTC), the exchange-traded vehicle will offer investors a way to buy into the world's most popular cryptocurrency denomination. It's a logical evolutionary step for ARK Invest's growing empire of future-minded funds, but there's still a lot to unpack here.
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Source Fool.com
