The application says that the fund will invest in exchange-traded Bitcoin futures contracts that are cash-settled in US dollars on the Chicago Mercantile Exchange (CME). Wood’s comments follow ARK’s recent SEC filing seeking approval for a Bitcoin futures exchange-traded fund (ETF). Back in June, ARK filed an application for a physically-backed Bitcoin ETF product with 21Shares. If approved, investment product will track the price of Bitcoin futures traded on the CBOE. Wood says that the estimate did not factor in large firms already bullish on crypto, such as Square, MicroStrategy and Tesla, adding even more Bitcoin to their balance sheets. ARK Investment Management has filed an application for a Bitcoin futures ETF alongside Alpha Architect ETF Trust and 21Shares. If institutions around the world were to allocate five percent of their portfolios to Bitcoin, that allocation alone, and this is just one of many use cases out there, would add roughly $500,000 to Bitcoin’s price.” Real estate in the 70s and 80s, and emerging markets. “I have seen two periods in my investment life where what seemed like new asset classes were moving into institutional portfolios. Wood tells the CFA Societies of Australasia conference,
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