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Cathie Wood's flagship fund, the Ark Innovation Fund, had better results in January than in any other month since it was launched in 2014Encountered the same resistance.
This follows a year of sharp decline in the fund's focus on long-term investment in disruptive technologies, including the cryptological industry.
This follows a year of sharp decline for the fund, which emphasizes long-term investment in disruptive technologies, including the crypto industry.
ARK rebounds backwards. Starting at approximately $30 a month, it trades for $39.72 at time of entry.
Earnings are a reassuring sign following the technology-based fund, which dropped 21% in 2021 and 69% in 2022 in a context of macroeconomic tightening that devastated equities and cryptography.
However, the month of January was more favourable to the technology industry as markets regained confidence in response to promising inflation figures in December. With the inflation spike starting to cool, some believe that the Federal Reserve may be willing to back off and cut interest rates again, which would be a boon to the markets.
Bitcoin has increased by 41% since the beginning of last month, whereas the nasdaq has risen by about 14%. Each saw pronounced gains on Wednesday shortly after the Federal Reserve announced a 25 basis point rate hike – milder than those seen in previous months.
One of the biggest winners since early January, however, is Tesla – up 68% since Jan 3 after tumbling 64% last year. It was one of the main engines of the success of the ark last month after wood made its appearance in the stocks of tesla in recent weeks with more than 19 million dollars.
Other major winners for the arch included spotify and roku, each increasing by 45% and 49% throughout the month.
Spotify and Roku were among the other top KRG winners, each up 45 per cent and 49 per cent during the month.
ARK is heavily invested in Coinbase, America’s largest crypto exchange, which accounts for 4.5% of the firm’s portfolio. That’s a position worth $347 million – even after dumping some shares back in July. This is a $347 million position, even after the July dumping of some equities.
Although still down 66% year-on-year, COIN has grown 95% since the beginning of the year. The fund's equities are now trading at $12.54 each, an increase of 52% since last month. Even though Ark took $4.5 million in shares in the trust in November, it sold 500,000 shares in the market last month after it recovered.
However, gbtc is trading at a massive 42% reduction compared to its underlying Bitcoins holdings, due to regulatory unwillingness to allow the fund to become a standard spot ETF. Wood has attempted to launch his own Bitcoin ETF alongside 21shares.
