ARK Invest’s Cathie Wood will join the board of a European crypto firm after personally backing the company

Cathie Wood
ARK Invest CEO Cathie Wood.

  • Ark Invest CEO Cathie Wood has joined the board of European cryptocurrency platform Anum Holdings, Bloomberg reported Monday.
  • Anum operates 21Shares AG, a specialist in exchange-traded products that Wood has personally backed.
  • Anum is aiming to launch its first non-European ETP in the coming months, the report said.
  • See more stories on Insider’s business page.

Cathie Wood, who runs the high-profile ARK Disruptive Innovation ETF, has joined the board of a European cryptocurrency platform after personally investing in the operator of exchange-traded products specialist 21Shares AG, Bloomberg reported Monday.

“21Shares is forging a new path for crypto ETPs by leading with research and a keen understanding of this developing asset class,” Wood said in an emailed statement to Bloomberg about her joining the board of Anum Holdings. “I am thrilled to support its efforts.”

Amun and 21shares instruments are listed on national exchanges in Switzerland, Austria and Germany, among other locations and the company plans to list its first non-European product in coming months, the report said, citing Anum’s CEO Hany Rashwan.

The firm’s 21Shares Short Bitcoin ETP allows investors to bet against Bitcoin and its 21Shares Crypto Basket Index tracks the top five cryptocurrencies by market value. Bitcoin and ether, the token tied to the Ethereum blockchain platform, are the two largest cryptocurrencies by market capitalization.

The move by Wood underscores how more institutional investors are working to capture the growth of the cryptocurrency market. Goldman Sachs has formed a new cryptocurrency trading desk and UBS Group, the largest investment bank in Switzerland, is in talks to offer cryptocurrency investments to its wealthy clients, Bloomberg reported.

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