CEO of ARK Investment Joins Board of Amun Holdings

Cathie Wood, CEO of Ark Investment Management LLC, has announced her joining the board of Amun Holdings Ltd. The news of her joining is followed by her move of investing in the operator of 21Shares. 

Cathie Wood Invested in 21Shares

According to Cathie Wood,

“21Shares is forging a new path for crypto ETPs by leading with research and a keen understanding of this developing asset class.”

Amun Holdings, a platform specializing in exchange-traded crypto products was rebranded in 2021 as 21Shares. Established in 2018 by the present CEO Hany Rashawn and President Ophelia Snyder, Amun remains as the parent company and ETP provider of 21Shares.

According to Rashawn, 

“Zurich-based Amun’s assets under management have climbed to about $2 billion from $27 million in March 2020. It’s profitable, with $40 million to $50 million in annual revenue generated from both retail and institutional investors such as family offices. We built the company to make crypto as accessible as stocks and have seen tremendous demand for our products.”   

 “The company has plans to list its first non-Euro product to expand ETP options by up to 30 products in eight countries,” Rashwan added.  

The company’s other backers include Boost VC, Morgan Creek, Collaborative Ventures, Graham Tuckwell, and Quiet Capital. 

Wood’s Other Ventures are Struggling to Stay Afloat

On one side the project between Woods and 21Shares just initiated, while her other ventures are struggling to stay above the surface. 

As per the recent reports, Woods’ flagship exchange-traded fund demolished by more than 5% yesterday. However, the ETF has seen even worse days where funds tumbled more than 30% since peaking in February.  

The ARK Innovation ETF is an actively managed fund that invests in disruptive technology. A few examples of such technology include driverless cars, electric vehicles, etc. The fund has fallen more than 16% YTD.