Ark Invest founder Cathie Wood passed on buying the first Bitcoin Futures ETF

[Tnoy30]

She cited an investigation into tax ramifications as one of Ark Invest’s reasons for withholding for now. Ark Invest founder and CEO Cathie Wood did not invest in the ProShares Bitcoin Strategy Exchange Traded Fund, or ETF, on opening day, according to Business Insider.

Wood said about the ETF’s debut:

“No, we did not [invest]. We’re looking at this very carefully […] there are some tax ramifications we’d like to understand more having to do with contango versus more normal backwardation.”
Source: Ark Invest founder Cathie Wood passed on buying the first Bitcoin Futures ETF