Cathie Wood has refused to buy the first bitcoin futures ETF
She noted that the company was critical of bitcoin futures ETF in terms of tax implications
21.10.2021 - 14:05
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What's new? Ark Invest’s founder and CEO, Cathie Wood, did not invest in the ProShares Bitcoin Strategy (ETF) stock fund on opening day, Business Insider reports.
Wood said about the ETF’s debut:
“No, we did not. We’re looking at this very carefully … there are some tax ramifications we’d like to understand more having to do with contango versus more normal backwardation.”
What is known about Wood’s Ark Invest? In June of this year, in partnership with 21 Shares, the company applied for its own bitcoin ETF. One of its funds, Ark Investment Management, was approved for investment in the Canadian bitcoin ETF called Ark Next Generation ETF. Ark Invest owns 8,3 million shares of Grayscale Bitcoin Trust, and bitcoin and ether make up a significant share of Ark Invest’s portfolio.
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