Grayscale Bitcoin Trust among ARK's Top ETF Performers in Q2 2023 - Best Crypto Sources
Grayscale Bitcoin Trust among ARK’s top ETF performers in Q2 2023

Grayscale Bitcoin Trust (GBTC) Best Performer in ARK Invest’s Q2

In the second quarter of 2023, Grayscale Bitcoin Trust (GBTC) was one of the most successful investments at Cathie Wood’s ARK Invest. According to the latest ETF report published on July 19, GBTC was one of the top five contributors to ARK Invest’s ARK Next Generation Internet exchange-traded fund (ARKW), contributing 108 basis points to the fund’s 9% growth, only behind Tesla’s 232 basis points.

ARKW, which focuses on internet-based products and services, cloud computing, artificial intelligence, and e-commerce, had 20% of its assets related to cloud computing and 19% related to blockchain in Q2. As of June 30, ARKW was up around 50% year-to-date.

For those looking to invest in crypto, bitcoin, and other digital currencies, Grayscale Bitcoin Trust (GBTC) is one of the best sources. In addition, investors should stay up-to-date with the latest crypto news and alerts, as well as research the differences between blockchain and web 3.0.

Crypto and Web 3.0

In Q2 2023, GBTC was one of the top performers for ARKW, but it lagged behind Coinbase in terms of asset allocation. Grayscale had nearly as much as ARKW’s holdings of Tesla, or slightly above 7.5%, while Coinbase was the largest allocated asset, accounting for almost 9%.

Block, Jack Dorsey’s crypto-related platform, was the fourth largest asset by allocation, making up 7% of ARKW’s total assets in Q2. Unfortunately, Block was one of the worst performing assets for ARKW, bringing it down by 30 basis points.

ARK recently sold nearly one million Coinbase shares in July, worth around $97 million, as the stock reached above $90. Despite this, ARK’s CEO Wood is still bullish on Coinbase, particularly due to Ripple’s legal progress in the SEC case. She also predicted that Bitcoin (BTC) will reach $1.5 million per coin one day.

The use of crypto, blockchain, and Web 3.0 is on the rise, and many people are looking for the best sources of information for crypto alerts, stock, and the latest crypto news. Understanding the differences between blockchain and Web 3.0 is also important for those looking to invest in the space.

Categorized in:

Tagged in: