Cathie Wood, CEO of ARK Investment Management, has revealed that a significant portion of her personal net worth is invested in Bitcoin BTC/USD.
What Happened: During an interview with Schwab Network on Wednesday, Wood discussed her financial portfolio, stating, “Pretty much all of it is in innovation.”
Wood further disclosed that her personal financial investments include both her firm’s private funds and cryptocurrencies, primarily Bitcoin.
She emphasized her confidence in the depth of research conducted by her firm, stating, “It’s just that my degree of confidence in the depth of our research gives me the courage, people might say, to be more aggressive in this realm.”
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Wood provided an estimate of her Bitcoin investment, stating, “Excluding Ark and excluding real estate, the financial net worth [in Bitcoin] is at least 25%.”
Why It Matters: This disclosure comes as ARK Invest recently received SEC approval for the Ark21Shares Bitcoin ETF.
As ARK promotes the allure of Bitcoin and the potential gains it offers, Wood’s firm, in collaboration with BlackRock Inc. BLK, has proactively reduced management fees for their proposed spot Bitcoin ETFs.
The expense ratio has been lowered from 0.25% to 0.21%, accompanied by a fee waiver for the first six months or up to $1 billion in fund assets, aiming to attract investors amid intense competition.
Price Action: At the time of writing, BTC was trading at $46,050.65, up 0.38% in the last 24 hours, according to Benzinga Pro.
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