Ark Investment, led by Katie Wood, bought $89M worth of Twitter stock after the platform announced the integration of BTC tips.
Ark Investment Management doubled its support for the social media platform run by Jack Dorsey. Interestingly, the last significant stock purchase came just one day after Twitter announced it would support BTC.
According to Benzinga, investment manager Katie Wood bought nearly 124,000 shares of Twitter stock on Friday. Including TWTR closing prices, that amounted to $88.74 million.
Ark Invest used two of its most popular ETFs, the Ark Innovation ETF (ARKK) and the Ark Next Generation ETF (ARKW), to accumulate Twitter stock. As a result, the social media platform became the third-largest investment
ARKW of about 50 shares.
TWTR’s total number of shares in the two ETFs is now just under 11 million — roughly $760 million as of Friday. This comes after another big purchase in mid-May, when Twitter stock fell hard.