Grayscale Bitcoin Trust was among top performers at ARK Invest’s ARKW in Q2 2023, while Jack Dorsey’s Block was among top detractors. 🤔
Digital currency investment product, Grayscale Bitcoin Trust , was one of the best performers at Cathie Wood’s ARK Invest in the second quarter of 2023.on July 19, GBTC was one of the top contributors to the success of its ARK Next Generation Internet exchange-traded fund in Q2.
According to the data, GBTC was one of the top five drivers of ARKW’s growth of more than 9% in Q2, alongside other top performers like Tesla, Shopify, Unity Software and Draftkings. Ranked in fifth place, Grayscale accounted for 108 basis points at ARKW, while the top asset, Tesla, amounted to 232 basis points, the document notes.ARKW is one of the leading ETFs operated by ARK in terms of year-to-date, up around 50% over the period as of June 30.
Although GBTC was a top performer for ARKW in Q2 2023, the asset trails Coinbase in terms of the amount of asset allocation at ARKW. Grayscale accounted for nearly as much as ARKW’s holdings of Tesla, or slightly above 7.5%, while Coinbase was the biggest allocated asset, accounting for nearly 9%.Other top assets by allocation also include Jack Dorsey’s crypto-related platform Block, which is ranked fourth, and accounted for 7% of the ARKW’s total assets in Q2.
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