Investor Cathie Wood's ARK Investment Management was among the first companies to secure approval from the US Securities and Exchange Commission (SEC) to launch a Bitcoin exchange-traded fund (ETF) in 2024. Ark Invest operates multiple ETFs prioritising AI, cryptocurrency, robotics, and disruptive technologies.
Bitcoin's price is off more than 20% from its record high earlier this year, hovering around £63,532 ($82,346) on 18th March. Despite US President Donald Trump's pro-crypto policies, the cryptocurrency has been facing selling pressure, probably due to the uncertainty around trade wars, elevated inflation, and security incidents at major crypto exchanges.
