ARK Invest founder Cathie Wood joins Amun Holdings board

ARK Invest founder Cathie Wood joined the crypto-focused Amun Holdings as an independent director.

According to the press release, Wood joined the company’s board after personal investments. Amun also attracted financing from Morgan Creek Digital, Anthony Pompliano, Collaborative Ventures and Quiet Ventures. The fundraising round will close within a week.

Amun co-founder and president Ophelia Snyder told Bloomberg that she met Wood in 2019. She said the group would leverage the ARK Invest founder’s experience for global expansion.

Amun Holdings owns the crypto exchange-traded product provider 21 Shares. Under its management, 14 crypto ETPs with a combined AUM of more than $2 billion. The provider’s annual revenue is $40-50 million.

“We created the company to make cryptocurrency as accessible as stocks, and we have seen strong demand for our products,” said Hani Rashwan, CEO of 21 Shares.

21 Shares’ instruments are listed on exchanges in Switzerland, Austria and Germany. According to Rashwan, in the coming months the company will launch the first non-European ETP and will expand its offering to 30 products in eight countries.

Earlier in March, the Xetra trading platform of Deutsche Börse approved the listing of Ethereum-ETP and launched trading of a Bitcoin-ETP from 21 Shares.

Earlier the company introduced an exchange-traded product based on Polkadot aimed at institutional investors.

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