Cathie Wood, the CEO and Chief Investment Officer of Ark Invest, revealed that the most common question on their website is why their strategies cannot be purchased in Europe. In an interview with CNBC’s “ETF Edge,” Wood stated that the demand for Ark’s research strategies from Europe accounts for approximately 25% of the total demand.
To address this demand, Wood’s firm recently expanded its exposure to Europe by acquiring Rize ETF Limited from AssetCo. Wood described the acquisition as finding a “gem of a company” that shares similar philosophies and DNA with Ark. She praised Rize ETF for its focus on the future, thematic orientation, and commitment to sustainability, which are vital in Europe.
Wood expressed her admiration for Rize ETF’s own research and due diligence during the deal. Pending regulatory approval, she anticipates a seamless integration and distribution of their strategies globally, including in the US.
Ark Invest currently manages around $25 billion in assets, according to the firm. As of September 30, FactSet reports Ark’s top five holdings are Tesla, Coinbase, UiPath, Roku, and Zoom Video.
With increasing interest and inquiries from European investors, Ark Invest’s expansion into the European market is a strategic move to cater to global demand and enhance its presence as a leading investment firm.
I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.
