(BeInCrypto) – Cathie Wood’s ARK Fund has seen a dip due to the recent Chinese cryptocurrency ban, but investors remain optimistic about long term performance.
Ark Innovation Fund takes a hit due to Chinese ban
Cathie Wood’s ARK Innovation Fund, specifically targeted at key stakeholders in disruptive technologies, has taken a hit from the recent cryptocurrency regulatory crackdown in China. The ARK Innovation Fund was the best performing U.S. Equity Fund in 2020, before shares in Coinbase fell 1.5% on Friday, September 24, 2021.
ARK Innovation Fund investments in crypto
The ARK Innovation Fund is an actively managed Exchange Traded Fund that seeks long-term growth of capital by investing primarily at least 65% of its assets in domestic and foreign equity securities of companies that are relevant to the disruptive innovation theme. Cryptocurrency-based companies certainly fall within the ambit of the ARK Innovation Fund’s investment portfolio, which includes robotics, energy storage, DNA sequencing and artificial intelligence. Companies in the blockchain and P2P technology spaces account for 3.1% of ARK’s investment portfolio of technology investments, as of June 30, 2021.
By David Thomas
