Ark Investment has recently announced that it has decided to part ways with its Chinese company stocks. In the past few months, the Chinese stocks have plunged by 10%. This is a direct result of the entrance of the Chinese Communist Party (CCP) into the economic sector. By doing so, Ark Investment has reduced the exposure of the Asian stocks in their ETF.

At present, The Ark Investment ETF only retains 0.32% of the exposure for the securities in question. The financial giant holds about $23 million worth of assets in China-based enterprises. However, this number was as high as 8% as early as February. The last installment of these stocks was sold off on Friday as part of a bigger plan. Bitcoin would fill the void left behind by the Chinese stocks.

ARK Cryptocurrency Fund Added Bitcoin worth $20 Billion

Ark Investment plans to reduce the exposure of Chinese stocks to 0.32% only. At present, the number is reducing rapidly, but the investment giant still hosts around 3.8% of exposure on its Next Generation Internet ETF. In terms of year-to-year ratios, the Chinese stock exposure has decreased by 9%.

According to the management, their interest in Bitcoin as a hedge of funds has been no secret. The virtual assets division is called ARK Cryptocurrency Fund invested a whopping $20 billion in Bitcoin alone in May for the ongoing year. Many crypto proponents are taking this as great news. This is also taken as an affirmation of another bull run by many.

The Next Generation Internet ETF by ARK Investment is not limited to Bitcoin in terms of cryptocurrencies. The company bought 140,157 GBTC shares from Grayscale Bitcoin Trust. Another installment of 310K shares from the largest BTC Trust in the world was also purchased recently.

Coinbase, known as the largest crypto exchange platform in the USA, has also become part of the ETF. ARK Invest decided to pick up 876,157 shares by Coinbase valued at around one million USD. Considering the services that Jack Dorsey facilitates for Bitcoin and Lightning Network, Ark Invest added more than $88 million worth of Twitter shares for their ETF.