CEO of Ark Investment Management, Catherine Wood has declared her decision to join the board of Anum Holdings, a European cryptocurrency platform. This decision was announced after the Ark Invest CEO personally invested in the operator of exchange-traded products specialist 21 Shares AG, as reported by Bloomberg on Monday.
Anum Holdings, an establishment run by CEO Hany Rashawn and president Ophelia Snyder, is the parent company and ETP provider of 21Shares. The re-branded entity’s instruments have been listed on Swiss, Austrian, and German exchanges. The firm’s 21Shares short Bitcoin ETP permits investors to place bets against cryptocurrencies such as Bitcoin and its 21Shares Crypto Basket Index as it tracks the top five cryptocurrencies by market capitalization.
Catherine Wood said in a statement to Bloomberg about her decision to join the board of Anum Holdings – “21 Shares is forging a new path for crypto ETPs by leading with research and a keen understanding of this developing asset class.” Stating thereafter to be thrilled to support the efforts of the establishment.
Woods Desire to Aid the Development and Strategy of the Zurich-based Establishment
In 2019, when Catherine Wood met with CEO Rashwan and Snyder at a conference, talks about the potentials and structure of the industry were held as the possibilities for the emergence of new tech applications were weighed. Snyder said that Cathie Wood gave business counsel that would expand the global footprints of 21Shares as regards to development and distribution of products.
Anum Holding’s assets under management have rocketed up to an estimated $2 billion from a March 2020 estimate of $27 million. Anum Holdings CEO Rashwan declares his unwavering intentions to make the accessibility of cryptocurrencies similar to stocks with this move seeing increasing demand for the company’s products.
“It’s profitable, with $40 million to 50% million in annual revenue generated from retail and institutional investors such as family offices”, the CEO said.
Bloomberg reported that the decision by Wood emphasizes how many institutional investors are making efforts to flow with the growth of the cryptocurrency markets. This institutional effort is evident in the moves as world-class institutions as Swiss-based investment bank UBS, get in talks to offer cryptocurrency investments to its wealthy clients while Goldman Sachs forms a new cryptocurrency trading desk.
ARK Innovation ETF and the Need for Cathie Wood to Triumph
Recently, they have been reports that Wood’s flagship exchange-traded fund declined by more than 5% on Monday. This decline followed up after the fund toppled more than 30% since its rising in February. This development indicates the struggling ship of Wood’s other ventures as she plunges into a project with 21 shares.
As top holders, including Tesla and Roku all faced a bottom decline as of today with Tesla leading the bottom race down with a 5.5% decline leading the ARK Innovation ETF which is an actively managed fund in disruptive technology to fall more than 16% YTD.
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