Cathie Wood’s investment firm, ARK Investment is making its two actively managed cryptocurrency strategies available to registered investment advisors.. The strategies will be available as separately managed accounts (SMAs) through a collaboration with the Eaglebrook digital asset platform, the companies announced Oct. 3.
ARK’s crypto strategy is aimed at capitalizing on the monetary revolution, the companies said in the statement, stating that it “could serve as a strategic allocation in well-diversified portfolios.”
Cathie Wood, Founder and CEO of ARK, said:
“The strategies will be Separately Managed Accounts (SMAs) designed to meet the needs of financial advisors, wealth managers and their clients by offering direct ownership, low minimums and portfolio reporting integration, among other benefits.”
This collaboration should allow Ark to expand its services beyond exchange-traded funds (ETFs). An SMA is a portfolio created by a financial advisor or investment firm for a single investor. In ETFs, investors own shares of the fund rather than the underlying securities.
ARK’s most important fund, The Ark Innovation ETF, seeks long-term capital growth by investing in disruptive innovation companies, according to its official website. It has $7,946 million under management and is down 60.11% as of September 30, while the S&P 500 is down 23.87% and the price of BTC is down over 58% in 2022.. Wood is known to be a big Bitcoin (BTC) believer, who predicted that BTC would hit $1 million by 2030.
Yassine Elmandjra, crypto asset analyst at ARK, said in the statement that “much of the speculative behavior has died down.” He added that the timing “presents an attractive entry point for investors.”
Ark sold more than 1.4 million shares of Coinbase (COIN) through three of its funds in July, as regulators investigated the firm for alleged insider trading. At the time, the firm was one of Coinbase’s largest shareholders.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.