During the tail end of 2020, GBTC accounted for around 2% of ARKW’s total assets, but that position has grown to as much as 5% of the portfolio in April.
On a percentage basis, the latest buy was a relatively modest jump from 3.9% to 4.2%, but Wood has long been a crypto bull and has been willing to heavily overweight bitcoin in a way that most ETFs have not dared .
Coinbase, of course, just debuted back in April so there’s not a lot of history to work with, but Wood has been steadily building her position since it went public.
Coinbase checks two big boxes that make it a great fit in the ARK portfolios – her belief in the crypto space and the companies that will benefit from it and the “buy on sale” style that she favors.