ARK Investment Management has purchased over 140,000 shares of Grayscale Bitcoin Trust (GBTC). According to the firm's updated portfolio, the New York-based firm purchased 140,157 shares of GBTC for $3.3 million. The total weight of GBTC in the ETF is close to 3.8%.
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The shares were added to the ARK Next Generation Internet ETF, which contains stocks of tech companies working in the space of artificial intelligence, big data, machine learning and blockchain. The ETF now contains a total sum of 9 million GBTC shares worth ~$216 million.
ARK Invest also acquired 120,000 shares of the Coinbase cryptocurrency exchange. The exchange's weight in the ETF is over 4.07%. The Grayscale Bitcoin Trust works similarly to ETFs, as it is backed by bitcoin (EXANTE: Bitcoin) and follows the cryptocurrency price. However, it is not registered with the US Securities and Exchange Commission (SEC), so only accredited investors have access to it.
Earlier, Grayscale Investments announced the launch of new investment product and index related to decentralized finance (DeFi). The so-called Grayscale DeFi Fund provides investors with exposure to a selection of industry-leading DeFi protocols, including Uniswap, Compound and Aave.
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