ARK Invest CEO Cathie Wood joins board of crypto firm Amun
May 10, 2021, 5:08PM EDT
1 min read
On Monday, Cathie Wood, the prominent Wall-street investor and CEO of ARK Invest, joined the board for the crypto tech company Amun Holdings, according to Bloomberg.
Amun attempts to improve retail and institutional accessibility to crypto, Amun CEO Hany Rashwan told Bloomberg, and that the company earns between $40 million to $50 million per year.
Bloomberg reported that Wood joined the board after making a personal investment in 21Shares AG, a provider of exchange-traded products tied to the crypto market. The Zurich-based company intends to tap Wood’s expertise to expand 21Shares globally.
Woods' funds are significantly involved in the crypto arena, having bought a total of $246 million of Coinbase shares on April 15 then another one million Coinbase shares worth $110 million the following day. That was two months after ARK bought 7 million shares of Grayscale Bitcoin Trust.
Wood’s position at Amun Holdings follows notable board appointments across the crypto ecosystem.
For example, on April 20, former Commodity Futures Trading Commission (CFTC) chair J. Christopher Giancarlo joined BlockFi. This came more than a month after Bitcoin investment firm NYDIG appointed New York Life CEO Christopher Mathas to its board.