Ark Invest Seeks to Launch Venture Fund – Blockworks

  • The Ark Venture Fund may invest in companies that “develop, use or rely on” blockchain technologies, as well as the Grayscale Bitcoin Trust (GBTC)
  • Proposed interval fund would conduct quarterly repurchase offers of the fund’s shares

Ark Invest has filed to launch a venture fund that would invest in companies involved in disruptive initiation, including those related to crypto and blockchain technologies .
The New York-based investment firm has nine exchange-traded funds deal in the US with unite assets of approximately $ 22 billion .
But the new fund will be structured as an interval store, meaning it would conduct quarterly buy back offers for an have a bun in the oven 5 % of the fund ’ second shares, according to a disclosure filed Thursday.

It would invest in public, angstrom well as privately placed or restricted, securities. The fund has a minimal initial investment of $ 1,000 .
such companies the Ark Venture Fund seeks to invest in include those involved in revolutionizing genomics and transforming automation and energy usage, a well as businesses focused on artificial intelligence, fiscal technology and the adjacent generation of the internet .
This comprises companies that “ develop, use or rely on ” blockchain technologies, the filing notes. The fund may besides have exposure to cryptocurrencies, such as bitcoin, indirectly through an investment in the Grayscale Bitcoin Trust ( GBTC ) .
An Ark spokesperson declined to comment promote on the proposed fund .
Bloomberg Intelligence Analyst James Seyffart said in a Twitter post that the time interval fund structure makes sense for Ark ’ sulfur investment strategy .
“ Can buy semi-private investments, control inflows & outflows, close the fund, ” he wrote in the tweet. “ All of this will allow Ark to dig deeper into smaller names and worry a bite less about liquid risk. ”

Ark Invest and 21Shares in June filed for a physically backed bitcoin ETF, a type of merchandise that the US Securities and Exchange Commission ( SEC ) has not however approved. More recently, the tauten teamed up with 21Shares in an campaign to bring a bitcoin futures-based ETF to market .
Ark fall through and CEO Cathie Wood said in November 2020 at a virtual Barron ’ s league that she believes bitcoin could hit $ 500,000 in the long-run. She shared bullish comments about crypto technologies more broadly during a Jan. 25 webinar .
“ We do think that decentralized finance will usurp the character of most fiscal services companies today, ” she noted as part of the discussion with MSNBC ’ s Chris Hayes .
Ark ’ s “ Big Ideas ” report published last month predicts that ether ’ sulfur marketplace capitalization — presently at roughly $ 345 billion — could exceed $ 20 trillion in the future 10 years .
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  • Ben Strack

    Ben Strack is a Denver-based reporter covering macro and crypto-native funds, fiscal advisors, structured products, and the integration of digital assets and decentralized finance ( DeFi ) into traditional finance. Prior to joining Blockworks, he covered the asset management industry for Fund Intelligence and was a reporter and editor for assorted local newspapers on Long Island. He graduated from the University of Maryland with a degree in journalism. Contact Ben via electronic mail at [ electronic mail protected ]

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