Cathie Wood’s Ark Invest is creating a bitcoin exchange-traded fund, according to a filing with the Securities and Exchange Commission.
Wood — a longtime bitcoin bull — has been buying up proxies for the digital asset in names such as Coinbase and Grayscale Bitcoin Trust. Now, the innovation investor is seeking to own the actual asset itself.
The ETF’s investment objective is to track the performance of bitcoin, according to the SEC filing. The fund would trade under the ticker symbol “ARKB,” if approved by the SEC. Ark Invest is working in partnership with 21Shares to launch the ETF.
Bitcoin has hovered around $34,000 for the past couple of weeks as…