Fresh YORK , Sept. 15, 2015 /PRNewswire/ — ARK Investment Management LLC (ARK), an active manager of thematic exchange-traded funds (ETFs), is pleased to announce that the ARK Web x.0 ETF (NYSEARCA: ARKW) has become the very first ETF to invest ter bitcoin. ARK has made its investment for ARK Web x.0 ETF through the purchase of publicly traded shares of Grayscale’s Bitcoin Investment Trust (OTCQX: GBTC).
ARK believes that bitcoin, a digital currency, could disrupt the $500 billion intermediary payment podium industry which includes credit cards, electronic payments and remittances, and might empower the creation of a fresh group of companies and industries. Spil a burgeoning form of payment, it has received acceptance from major companies such spil Dell, Overstock and Expedia.
“Wij’re believers te bitcoin, the currency, and Bitcoin, the technology toneelpodium. Wij also believe that current prices present an attractive entry point for our investors,” said ARK’s Founder and Chief Investment Officer Cathie Wood . “Bitcoin is a disruptive innovation and while still ter its infancy, rente has bot growing rapidly ter Silicon Valley, Wall Street and Washington, D.C. “
The ARK Web x.0 ETF invests ter disruptive companies converting all sectors of the economy. Thesis switches are accelerating thanks to Internet-enabled mobile and local technological breakthroughs, which are revolutionizing consumer and business behavior.
“Wij’re excited to receive an investment into the Bitcoin Investment Trust from an innovative rock hard like ARK,” said Grayscale Founder Barry Silbert . “ARK, a pioneer ter the investment community, is te good company. Latest news has highlighted Goldman Sachs, UBS and Citi for their initiatives ter the digital currency space.”
ARK Web x.0 ETF is the very first ETF on a U.S. exchange to invest ter bitcoin. ARK’s investment te publicly traded shares of the Bitcoin Investment Trust (OTCQX: GBTC) will be valued each day at Four:00 PM ET at their then current daily market price.
“Grayscale is a leader ter the bitcoin ecosystem, bridging the gap inbetween digital currency and the broader investment community,” said ARK’s Chief Operations Officer Jane Kanter . “Our investment philosophy is to invest ter innovative companies, and wij’re glad to be making our own innovative mark within the ETF community.”
About ARK Investment Management
Headquartered ter Fresh York City, ARK Investment Management LLC is a registered investment adviser and privately held investment stiff, specializing te thematic investing. The stiff is rooted te overheen thirty years of practice ter identifying and investing ter disruptive innovations that enable outsized growth spil industries convert. Through its open source research process, ARK is able to identify companies that wij believe are leading and benefiting from disruptive cross-sector compels and switching how the world works.
More information regarding the ARK funds can be found at www.ark-funds.com. Cathie Wood can be followed at @CathieDWood and the stiff’s themes can be tracked at @ARKindu @ARKgenome @ARKwebx0. ARK’s corporate Twitter feed can be followed at @ARKInvest.
About Grayscale Investments
Grayscale is a wholly-owned subsidiary of Digital Currency Group, a company helping to build the foundation of the digital currency and blockchain technology industry. The trusted authority on digital currency investing, Grayscale provides unparalleled market insight and investment exposure to the developing digital currency asset class. The very first te Grayscale’s line of investment products, the Bitcoin Investment Trust provides access to the investment chance of bitcoin securely and seamlessly. The Bitcoin Investment Trust’s shares are the very first publicly quoted securities (ticker: GBTC) solely invested te and deriving value from the price of bitcoin.
More information regarding Grayscale can be found at www.grayscale.co. Grayscale and the rock hard’s very first product can be followed at @GrayscaleInvest and @BitcoinTrust, respectively.
Before investing you should cautiously consider the fund’s investment objectives, risks, charges and expenses. This and other information is ter the prospectus, a copy of which may be obtained by visiting www.ark-funds.com. Please read the prospectus cautiously before you invest.
All statements made herein by ARK are stringently beliefs and points of view held by ARK. Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on ARK’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, spectacle or events to differ materially from those voiced or implied ter such statements. ARK assumes no obligation to update any forward-looking information contained herein. Albeit ARK has taken reasonable care to ensure that the information contained herein is accurate, no representation or warranty (including liability towards third parties), voiced or implied, is made by ARK spil to its accuracy, reliability or completeness. References to securities or investment products are not a recommendation to buy, hold, or sell such securities or products. An investment ter any security is subject to risks and you can lose money on your investment. There can be no assurance that any investment product will achieve its investment objectives. Detailed information regarding the specific risks of a security or investment product can be found ter its prospectuses or suggesting documents. ARK and its clients spil well spil its related persons may (but do not necessarily) have financial interests te securities or issuers that are discussed herein.
The principal risks of investing te ARKW include: Equity Securities Risk. The value of the equity securities the Fund holds may fall due to general market and economic conditions. Foreign Securities Risk. Investments te the securities of foreign issuers involve risks beyond those associated with investments te U.S. securities. Information Technology Sector Risk. Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Detailed information regarding the specific risks of ARKW can be found te its prospectus. Extra risks of investing te ARKW include market, management and non-diversification risks, spil well spil fluctuations te market value and NAV. An investment ter an ETF is subject to risks and you can lose money on your investment ter an ETF.
ARK WEB X.0 ETF (ARKW) TOP Ten HOLDINGS