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Cathy Wood’s ARK Invest revealed some interesting details on its Q2 2023 portfolio. The latest report suggested that Grayscale Bitcoin Trust (GBTC) stands out as one of the top performing assets in the investment firm’s portfolio.
However, GBTC lags behind Coinbase on ARKW when it comes to asset allocation.
GBTC tops the charts
Grayscale Bitcoin Trust (GBTC) played a key role in ARKW’s impressive growth of over 9% as one of the top five contributors. Along with other performers like Tesla, Shopify, Unity Software and DraftKings, GBTC secured the fifth position in this ranking.
In ARKW’s portfolio, the trust contributed 108 basis points, while Tesla, as the lead asset, represented 232 basis points, according to ARK’s latest quarterly ETF. reports,
ARKW depicts an impressive year-to-date gain of nearly 50%. In the second quarter, the leading ETF allocated about 20% of its assets to cloud computing and about 19% to blockchain as part of its strategy to capitalize on the internet-based products and services, cloud computing, artificial intelligence and e-commerce sectors.
Furthermore, GBTC has been trading at a steeply increasing discount to the value of bitcoins it has held for more than two years. However, the discount has narrowed significantly in recent weeks, giving investors profit. Such a trend could potentially indicate an increase in confidence or an increased demand for the shares.
Top assets by allocation
Coinbase emerged as the largest allocated asset with a weighting of 8.7%. Tesla with 7.6% and GBTC with 7.4% are in second and third place respectively. The Jack Dorsey-backed platform Block came in fourth with 7%.
However, the July sale of Coinbase shares is not included in the quarterly report. Cathy Wood’s investment firm accumulated a significant portion of COIN during the bear market. As the price of COIN reached a yearly high, ARK resorted to selling some of the shares to make a profit. Over the past two weeks, the investment fund led by the bitcoin bull has sold more than $88 million worth of COIN shares in tranches.
Despite the selloff, ARK CEO Wood reiterated his bullish stance on Coinbase.
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Cathy Wood’s ARK Invest revealed some interesting details on its Q2 2023 portfolio. The latest report suggested that Grayscale Bitcoin Trust (GBTC) stands out as one of the top performing assets in the investment firm’s portfolio.
However, GBTC lags behind Coinbase on ARKW when it comes to asset allocation.
GBTC tops the charts
Grayscale Bitcoin Trust (GBTC) played a key role in ARKW’s impressive growth of over 9% as one of the top five contributors. Along with other performers like Tesla, Shopify, Unity Software and DraftKings, GBTC secured the fifth position in this ranking.
In ARKW’s portfolio, the trust contributed 108 basis points, while Tesla, as the lead asset, represented 232 basis points, according to ARK’s latest quarterly ETF. reports,
ARKW depicts an impressive year-to-date gain of nearly 50%. In the second quarter, the leading ETF allocated about 20% of its assets to cloud computing and about 19% to blockchain as part of its strategy to capitalize on the internet-based products and services, cloud computing, artificial intelligence and e-commerce sectors.
Furthermore, GBTC has been trading at a steeply increasing discount to the value of bitcoins it has held for more than two years. However, the discount has narrowed significantly in recent weeks, giving investors profit. Such a trend could potentially indicate an increase in confidence or an increased demand for the shares.
Top assets by allocation
Coinbase emerged as the largest allocated asset with a weighting of 8.7%. Tesla with 7.6% and GBTC with 7.4% are in second and third place respectively. The Jack Dorsey-backed platform Block came in fourth with 7%.
However, the July sale of Coinbase shares is not included in the quarterly report. Cathy Wood’s investment firm accumulated a significant portion of COIN during the bear market. As the price of COIN reached a yearly high, ARK resorted to selling some of the shares to make a profit. Over the past two weeks, the investment fund led by the bitcoin bull has sold more than $88 million worth of COIN shares in tranches.
Despite the selloff, ARK CEO Wood reiterated his bullish stance on Coinbase.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
