Ark raises $16.3 million for new crypto fund amid buying spree

Quick Take

  • Ark Invest has raised $16.3 million for a crypto fund split across versions in the U.S. and the Cayman Islands.
  • Filings were released days after Ark added roughly $30 million in Coinbase shares to its funds over the last month, and roughly $20 million in Block shares in the last week.

Innovation-focused fund manager Ark Invest raised more than $16 million for a crypto fund split across a domestic and a Cayman Islands-based version, according to filings with the U.S. Securities and Exchange Commission on Wednesday.

ARK Crypto Revolutions U.S. Fund LLC raised $7.3 million from nine investors, while the ARK Crypto Revolutions Cayman Fund LLC raised almost $9 million from one backer. CoinDesk first reported the news.

The filings indicated that both funds opened for investments on March 1.

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While the filing specified that the target of the fund was “indefinite,” meaning that it's open-ended, Ark has been on a crypto buying spree in the last month, adding roughly $30 million in Coinbase shares to its funds over the last month, and more than $20 million in Block shares in the last week.


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