According to the latest quarterly ETF report released by ARK, GBTC was one of the main contributors to the second-quarter success of its ARK Next Generation Internet exchange-traded fund (ARKW).
The data shows that GBTC is one of the five major drivers of ARKW’s growth of more than 9% in the second quarter, and other outstanding performers include Tesla, Shopify, Unity Software and Draftkings.
The filing noted that No. 5 Grayscale accounted for 108 basis points of ARKW, while No. 1 Tesla accounted for 232 basis points.
ARKW, one of the main ETFs run by ARK so far this year, is up about 50% through June 30.
ARKW is committed to acquiring Internet-based products and services, cloud computing, artificial intelligence, and e-commerce. In the second quarter, ARKW owned nearly 20% of cloud computing-related assets and about 19% of blockchain-related assets.
Although GBTC is the best performer for ARKW in the second quarter of 2023, the asset lags behind Coinbase in terms of the number of assets allocated to ARKW.
Grayscale’s stake is almost as large as ARKW’s Tesla, at just over 7.5%, while Coinbase is the largest allocated asset, accounting for nearly 9%.
