2022-10-26
ARKK the biggest fund among Ark Invest funds hold Block, Inc. stock
4.58% and Coinbase stock 4.33% of it overall portfolio.
This indicates that Cathie Wood the founder of Ark Invest still believe that
cryptocurrency is a big part of fintech innovation.
Top 10 Holdings of ARKK
1. ZOOM VIDEO COMMUNICATIONS - A (9.10%)
2. TESLA INC (8.97%)
3. ROKU INC (6.54%)
4. EXACT SCIENCES CORP (5.32%)
5. INTELLIA THERAPEUTICS INC (4.97%)
6. BLOCK INC (4.58%)
7. UIPATH INC - CLASS A (4.57%)
8. CRISPR THERAPEUTICS AG (4.37%)
9. TWILIO INC - A (4.34%)
10. COINBASE GLOBAL INC - (4.33%)
Two of ARK Invest investment in cryptocurrency including
1. Coinbase (4.33% of portfolio)
Coinbase Glonal Inc,. is a cryptocurrency exchange platform. It is also
the developer of Coinbase Wallet.
Coinbase has its own investment arm called Coinbase Ventures that
fund many cryptocurrency projects including 0X, Acala Network, Certik, BlockFi,
and Celo.
2. Block, Inc. (4.58% of portfolio)
Block, Inc. formerly known as Square. The company makes money from
selling point-of-sale system that charge money from customer payment. Famous
products including Square Reader and Square Terminal. Square charges a standard fee of 2.6%, plus $0.10 for most of
the transaction.
Recently, Square put focus more on cryptocurrency
and blockchain through Cash App, its payment application in which users can buy bitcoin
using CashApp and pay bitcoin on the lightning network.
Another company under Block, Inc. is
Spiral, a company that develops Bitcoin lightning network that aim to make
Bitcoin payment easier for merchants.
ARKK fund is facing underperformance
but Cathie Wood told CNBC in an interview that lightning network developed by
Block, Inc. will be dramatically increase in its adoption.
For Coinbase, Cathie Wood told CNBC in
an interview that Coinbase is a platform for cryptocurrency investing that both
individuals and institutions trust for storing their cryptoassets. Coinbase is
also a developer of software cryptocurrency wallet that still has room to grow.
