Fx168 financial news (London) – according to the documents recently registered with the securities and Exchange Commission of the United States, the asset management company ark invest increased its holdings of grayscale bitcoin trust in the fourth quarter of 2020. Cathie wood’s ark, which manages about $50 billion in assets, has previously purchased 2.14 million additional grayscale digital currency investment products, bringing her total stake to 7.31 million. The gray bitcoin trust (GBTC) is the largest bitcoin fund in the world and the first of its kind. The purpose of GBTC is to enable investors to speculate in the form of securities and gain exposure to bitcoin without having to purchase or store bitcoin directly. Shares in investment vehicles track bitcoin prices. According to coindesk, the trust holds more than 649130 bitcoins, about 3.1% of bitcoin’s current supply. GBTC’s official website shows that it currently manages about $31 billion in assets. At current prices, Ark’s new stake in its products is worth $351 million. The company’s next generation Internet ETF holds a stake in GBTC. Bitcoin’s price rose to $49998 on Tuesday and then fell back as interest from Wall Street institutions provided momentum for its important rally. Cathie wood, known as the “goddess of shares,” predicted earlier this month that bitcoin would rise this year. “The market value of bitcoin is only about $600 billion,” she told Yahoo Finance at the time “So now it’s half as big as apple or Amazon. Shouldn’t that be taken into account in its future prospects? I think the future of bitcoin is much more meaningful than apple or Amazon. ” Ark manages five ETFs managed by wood and her team of analysts, which are actively investing in companies that they believe will change the world through “disruptive innovation.”. Other companies the company invested in in in the fourth quarter included Tesla, square, roku, pinterest, DocuSign, Alibaba, snapchat, paypal and Netflix.