Cathie Wood’s Ark Invest has raised $16 million for a new fund, according to a Securities and Exchange Commission filing on Wednesday. The ARK Crypto Revolutions Fund, registered in the U.S. and the Cayman Islands, is a private placement, meaning that it won’t be available to the public.

Private placements are usually sold to a small group of friends and family, accredited investors or institutional clients. The firm said in the filing that it started raising money on March 1 and has so far sold $7 million in the U.S. and $9 million in the Cayman Islands as of March 15.

Ark Invest did not immediately respond to a request for comment from Decrypt.

The new fund is another sign that the Florida-based investment manager still feels bullish about Bitcoin and crypto markets. Her Ark Innovation exchange-traded fund (ETF) drew nearly $400 million on Friday, according to Bloomberg, the largest increase since April 2021 and coming as the financial sector was rocked by bank failures.

Crypto-friendly Silvergate Bank announced it was voluntarily winding down last week and Silicon Valley Bank, which counted hundreds of tech startups as clients, was shuttered by regulators on Friday. On Sun

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Author: Stacy Elliott

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