ARK Invest raises $16.3 million for private crypto funds

On March 1, Ark Invest’s Cathie Wood raised $16.3 million for cryptocurrency-focused funds. The structures will be based in the United States and in the Cayman Islands.

ARK Crypto Revolutions U.S. Fund LLC raised $7.3 million from nine investors, ARK Crypto Revolutions Cayman Fund LLC from a single client.

The funds are open-ended and may attract new investors.

Earlier in March, three Ark Invest bought more securities of the Block company led by Jack Dorsey for a total of more than $13.7 million. The day before, Cathie Wood’s funds acquired in total 92,165 shares of the former Twitter CEO’s company for about $6.4 million.

Earlier, the funds bought more securities of Coinbase and the online broker Robinhood for $3.44 million and $9.97 million respectively. Later, the funds added to their portfolios another $20 million of shares of the American crypto exchange.