Crypto Bull Cathie Wood Says Ark Invest is Now Long Ethereum
Cathie Wood’s Ark Investment has now added Ether to the assets that it is bullish on.
Up until now, the company has been vocally bullish on Bitcoin through Grayscale Bitcoin Trust (GBTC) and Coinbase through COIN shares.
But as per the company’s latest filing with the US Securities and Exchange Commission (SEC), Ark is now dabbling in Ether as well.
According to the document, Ark Investment has been holding 639,000 units of Grayscale Ethereum Trust (ETHE) in the first quarter of 2021. By comparison, it holds 8.67 million shares of GBTC.
While GBTC is currently trading at a discount of 17%, the discount on ETHE is currently 5.43%, as per Bybt.
As of writing, the market is experiencing a deep crash, with Bitcoin down 51% to $31,800 and Ether crashing 54% to as low as $2,000 from their respective all-time highs. BTC -12.63% Bitcoin / USD BTCUSD $ 37,281.85
-$4,708.70-12.63% Volume 126.91 b Change -$4,708.70 Open $37,281.85 Circulating 18.71 m Market Cap 697.68 b
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In a recent episode of “In the Know,” talking about digital wallets, which includes both crypto and DeFi, Wood said within financial services, they are evolving “so much faster than I think anyone could have dreamed.”
“The digital wallet evolution or revolution has gone viral, and there’s a social networking element to it, so a very interesting space,” she added.