Ark's fund increased its holdings of GBTC and slightly reduced its holdings of COIN yesterday. Whether to buy Bitcoin is still to be confirmed.

According to documents filed by Ark Investment Management with the U.S. Securities and Exchange Commission (SEC), the company's cryptocurrency hedge fund has raised approximately $20 million in funds. Additionally, the latest data shows that the company's listed funds increased their holdings in GBTC yesterday while reducing their holdings in COIN.

Ark Cryptocurrency Fund

According to the documents filed by Ark Investment Management with the U.S. Securities and Exchange Commission (SEC), the company's cryptocurrency hedge fund has raised approximately $19.8 million, with a minimum investment of $1 million. However, overseas media outlets have cited this information and claimed that Ark Investment has purchased $19,872,939 worth of Bitcoin, but this news has not been officially confirmed. The content of the documents does not definitively confirm whether Ark Investment has used all the raised funds to invest in Bitcoin. Whether Ark Investment has fully invested in Bitcoin remains to be confirmed by official sources.

Increase in GBTC Holdings, Reduction in COIN

While it is uncertain whether Ark Investment has purchased Bitcoin, it is confirmed that the publicly traded funds under Ark Investment have increased their holdings in Grayscale Bitcoin Trust (GBTC). According to Ark Investment's holdings datashow, the company's ARKW fund bought 163,699 shares of GBTC (approximately $5.1 million) on May 25.

As previously reported, institutions like Ark Investment have been buying at low prices during the Bitcoin price collapse, which may be one of the reasons for the recent easing of the GBTC discount issue.

However, while Ark Investment increased its GBTC holdings, it also sold shares of Coinbase stock (COIN). The documents show that Ark Investment's two funds collectively sold 7,030 shares of Coinbase stock, with the ARKK fund selling 5,016 shares (valued at $1.2 million) and the ARKW fund selling 2,014 shares (valued at $490,000).

Nevertheless, Ark Investment's funds still hold 4,453,362 shares of Coinbase stock, with a total value exceeding $1 billion.

Cathie Wood Bullish on the Future

Cathie Wood, CEO of Ark Investment Management, previously stated in an interview with Bloomberg that despite the significant price correction in Bitcoin, it could still rise to $500,000. She even optimistically mentioned that the recent price drop has reduced speculation in the Bitcoin market, increasing the likelihood of the U.S. approving a Bitcoin ETF this year.

"We've now had the correction, and it makes it much more likely that we will in the future have a Bitcoin ETF."