Grayscale Bitcoin Trust among ARK’s top ETF performers in Q2 2023

Digital currency investment product, Grayscale Bitcoin Trust (GBTC), was one of the best performers at Cathie Woods ARK Invest in the 2nd quarter of 2023. According to ARKs latest quarterly ETF report released on July 19, GBTC was one of the leading contributors to the success of its ARK Next Generation Internet exchange-traded fund (ARKW) in Q2.According to the data, GBTC was among the leading 5 chauffeurs of ARKWs growth of more than 9% in Q2, alongside other top performers like Tesla, Shopify, Unity Software and Draftkings. Ranked in fifth place, Grayscale accounted for 108 basis points at ARKW, while the top possession, Tesla, amounted to 232 basis points, the file notes.ARKWs best and worst entertainers in Q2 2023. Source: ARK InvestARKW is one of the leading ETFs operated by ARK in regards to year-to-date gains, up around 50% in the duration to June 30. Intending to catch internet-based product or services, cloud computing, expert system and e-commerce, ARKW had nearly 20% of assets connected to cloud computing and about 19% related to blockchain in Q2.Although GBTC was a top entertainer for ARKW in Q2 2023, the property trails Coinbase in terms of the quantity of possession allowance at ARKW. Grayscale accounted for almost as much as ARKWs holdings of Tesla, or slightly above 7.5%, while Coinbase was the biggest allocated possession, accounting for nearly 9%. Leading 10 holdings at ARKW. Source: ARK InvestOther top properties by allotment include Jack Dorseys crypto-related platform Block, which is ranked fourth, and accounted for 7% of the ARKWs total possessions in Q2. Unlike GBTC, Block was amongst the top five worst performers for ARKW, dragging it down by 30 basis points in Q2.Related: Grayscale CEO: BlackRock ETF filing a minute of validation for BitcoinThe latest quarterly report by ARK does not include the businesss newest big sales of the Coinbase stock. As Coinbase shares reached above $90 in mid-July, ARK has actually been actively taking earnings, offering nearly one million Coinbase shares in July, worth around $97 million.Despite offering the stock, ARKs CEO Wood remains bullish on Coinbase, mainly due to Ripples newest legal progress in the long-running action initiated by the United States Securities and Exchange Commission. On July 17, Wood reiterated her bullish stance on Bitcoin (BTC), predicting it will strike $1.5 million per coin one day.Magazine: Tokenizing music royalties as NFTs could help the next Taylor Swift