Note from the Publisher: While we were doing a quick search on the famed Winklevoss twins today for another piece, we came across the following story by sheer happenstance. What makes this so interesting is that the Winklevosses are well known to be involved in bitcoin, and in the process of launching a bitcoin-based ETF, but in the meantime, someone did it before they did. Hmmmmm – sounds like a pattern – remember Facebook? Anyway, Ark Invest is the first to add bitcoin to one of its ETFs that invests in disruptive technology, although it is just one component in the ETF. The Winklevoss’ ETF will be the first to be fully invested in bitcoin, but still they got their thunder stolen, methinks.
“Ark Invest, the ETF issuer behind a handful of actively managed ETFs focused on so-called disruptive innovation, is breaking new ground today by adding bitcoins to one of its ETF portfolios.
This is the first time an ETF will offer direct exposure to the crypto currency—a move that, in some ways, beats the Winklevoss Bitcoin Trust ETF (COIN) to the punch. The Winklevoss brothers, Cameron and Tyler, have been pushing with the Securities and Exchange Commission to bring to market a bitcoin ETF for the past few years, but that ETF has yet to be approved…………..
The decision is an interesting one. ARKW officially beats COIN to the claim of first ETF to invest in bitcoins. But ARKW is not a currency or a commodity ETF; it’s a global equity fund that hones in on next-generation Internet-linked companies.
A share of ARKW is designed to offer investors exposure to a group of companies that are expected to be leading the next wave of Internet evolution, such as internet services and software names. Bitcoins will be just one element in the portfolio.”
Read Full Article at ETF.com