Ark Investment, led by Cathie Wood, has raised over $16 million for two new private crypto funds amid rising regulatory pressure. The funds, split between a domestic and a Cayman Islands-based version, are only available to a select number of investors. Ark Invest has shown bullish sentiment towards cryptocurrency firms despite the recent market downturn, particularly in shares of Coinbase. Wood also reaffirmed her belief that Bitcoin will hit $500,000 by 2030, citing its transparency and decentralization compared to other blockchain projects. The new funds began accepting investments this month.
