Cathie Wood's ARK Invest now holds more than 7 million shares in the Grayscale Bitcoin Trust

<p><img src="https://static5.businessinsider.com/image/602b90be2edd0f001a8d5d31-2000/ark invest_5.png" border="0" alt="Cathie Wood" data-mce-source="ARK Invest" data-mce-caption="Cathie Wood is the CEO and chief investment officer of ARK Invest, which runs three of the highest-returning stock ETFs of the last three years."></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul class="summary-list"><li>Cathie Wood's ARK Invest has scooped up over 7 million shares in Grayscale's digital investment vehicle.</li><li>ARK's Next Generation Internet ETF now holds a position of $351 million in Grayscale's Bitcoin Trust.</li><li>Disruptive innovator Wood has predicted the price of bitcoin will shoot higher in 2021.</li><li data-stringify-indent="0"><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener noreferrer" data-stringify-link="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell" data-sk="tooltip_parent"><strong data-stringify-type="bold">Sign</strong><strong data-stringify-type="bold">&nbsp;</strong><strong data-stringify-type="bold">up</strong><strong data-stringify-type="bold">&nbsp;here for our daily newsletter, 10 Things Before the Opening Bell</strong></a><strong data-stringify-type="bold">.</strong></li></ul><hr><p>Asset manager ARK Invest boosted its holdings in the Grayscale Bitcoin Trust in the fourth-quarter of 2020, according to a <a href="https://www.sec.gov/Archives/edgar/data/1697748/000110465921021679/xslForm13F_X01/infotable.xml">recent filing registered</a> with the Securities and Exchange Commission.&nbsp;</p><p>Cathie Wood's ARK, which manages <a href="https://www.businessinsider.com/cathie-wood-shares-2021-outlooks-on-tesla-economy-bitcoin-ark-2021-1">assets of about $50 billion</a>, bought 2.14 million additional shares in Grayscale's digital currency investment product, bringing its total holdings to 7.31 million shares.</p><p>Grayscale Bitcoin Trust (GBTC), the world's largest bitcoin fund and the first of its kind, enables investors to speculate on and gain exposure to bitcoin in the form of a security, without having to buy or store the digital token directly. Shares in the investment vehicle are part of a range of traditional finance products that track bitcoin prices.</p><p><strong><em>Read More:</em></strong> <a href="https://www.businessinsider.com/investing-strategy-bitcoin-etf-us-outlook-5-things-to-know-2021-2"><em>Canadian regulators just approved the world's first Bitcoin ETF. Here are the 5 things investors need to know about the outlook for a US version</em></a></p><p>The trust holds over 649,130 BTC, or roughly 3.1% of bitcoin's current supply, according to <a href="https://www.coindesk.com/grayscale-bitcoin-trust-explained">CoinDesk</a>. GBTC's current assets under management are around $31 billion, according to its <a href="https://grayscale.co/bitcoin-investment-trust/#overview">website</a>. At current prices, ARK's new share position in the Grayscale product stands at $351 million. The firm's Next Generation Internet ETF holds shares in GBTC.</p><p>The price of bitcoin <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-record-high-btc-wall-street-ethereum-institutional-investors-2021-2-1030085735">rose to $49,998 on Tuesday</a>&nbsp;before slipping back as interest from Wall Street institutions added momentum to its momentous rally.</p><p>Wood predicted earlier this month that bitcoin would shoot higher this year. "Bitcoin is only [at] roughly a $600 billion market cap," she told <a href="https://uk.finance.yahoo.com/news/ark-cathie-wood-bitcoin-400000-000053537.html">Yahoo Finance</a>. "So even half the size of Apple or Amazon, right now. Doesn't that put it into perspective' And yet, it is a very big idea, I think. A much bigger idea than Apple or Amazon."</p><p>ARK runs five ETFs run by Wood and her team of analysts that actively invest in companies they believe will change the world through "disruptive innovation."</p><p>Other companies that Ark invested in during the fourth quarter include Tesla, Square, Roku, Pinterest, DocuSign, Alibaba, Snapchat, PayPal, and Netflix.</p><p><strong><em>Read More: </em></strong><a href="https://www.businessinsider.com/stock-picks-highest-short-interest-retail-squeeze-targets-goldman-sachs-2021-2"><em>GOLDMAN SACHS: These 40 heavily shorted stocks could be the next GameStop if retail traders target themand the group has already nearly doubled over the past 3 months</em></a></p><p><strong>SEE ALSO:&nbsp;<a href="https://markets.businessinsider.com/news/stocks/stock-market-today-global-stocks-trading-record-highs-vaccine-stimulus-2021-2-1030085719" >Global stocks trade at record highs on vaccine hopes and chances of fresh US stimulus</a></strong></p><p><a href="https://markets.businessinsider.com/currencies/news/cathie-wood-ark-invest-bitcoin-holds-7-million-grayscale-trust-2021-2-1030085954#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/melissa-maker-clean-your-home-quickly-cleaning-expert-2017-4">A cleaning expert reveals her 3-step method for cleaning your entire home quickly</a></p>
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