NEW YORK, Sept. 15, 2015 /PRNewswire/ -- ARK Investment Management LLC (ARK), an active manager of thematic exchange-traded funds (ETFs), is pleased to announce that the ARK Web x.0 ETF (NYSEARCA: ARKW) has become the first ETF to invest in bitcoin. ARK has made its investment for ARK Web x.0 ETF through the purchase of publicly traded shares of Grayscale's Bitcoin Investment Trust (OTCQX: GBTC).

ARK believes that bitcoin, a digital currency, could disrupt the $500 billion intermediary payment platform industry which includes credit cards, electronic payments and remittances, and might empower the creation of a new group of companies and industries.  As a burgeoning form of payment, it has received acceptance from major companies such as Dell, Overstock and Expedia.

"We're believers in bitcoin, the currency, and Bitcoin, the technology platform.  We also believe that current prices present an attractive entry point for our investors," said ARK's Founder and Chief Investment Officer Cathie Wood. "Bitcoin is a disruptive innovation and while still in its infancy, interest has been growing rapidly in Silicon Valley, Wall Street and Washington, D.C."

The ARK Web x.0 ETF invests in disruptive companies transforming all sectors of the economy. These changes are accelerating thanks to Internet-enabled mobile and local technological breakthroughs, which are revolutionizing consumer and business behavior.

"We're excited to receive an investment into the Bitcoin Investment Trust from an innovative firm like ARK," said Grayscale Founder Barry Silbert. "ARK, a pioneer in the investment community, is in good company. Recent news has highlighted Goldman Sachs, UBS and Citi for their initiatives in the digital currency space."

ARK Web x.0 ETF is the first ETF on a U.S. exchange to invest in bitcoin.  ARK's investment in publicly traded shares of the Bitcoin Investment Trust (OTCQX: GBTC) will be valued each day at 4:00 PM ET at their then current daily market price.

"Grayscale is a leader in the bitcoin ecosystem, bridging the gap between digital currency and the broader investment community," said ARK's Chief Operations Officer Jane Kanter. "Our investment philosophy is to invest in innovative companies, and we're glad to be making our own innovative mark within the ETF community."

About ARK Investment Management

Headquartered in New York City, ARK Investment Management LLC is a registered investment adviser and privately held investment firm, specializing in thematic investing. The firm is rooted in over thirty years of experience in identifying and investing in disruptive innovations that enable outsized growth as industries transform. Through its open source research process, ARK is able to identify companies that we believe are leading and benefiting from disruptive cross-sector forces and changing how the world works.

More information regarding the ARK funds can be found at www.ark-funds.com.  Cathie Wood can be followed at @CathieDWood and the firm's themes can be tracked at @ARKindu @ARKgenome @ARKwebx0. ARK's corporate Twitter feed can be followed at @ARKInvest.

Media Contact: 
Hod Klein/Ryan Gorman 
212-704-7385
Hod@dukaspr.com / RGorman@dukaspr.com  

About Grayscale Investments

Grayscale is a wholly-owned subsidiary of Digital Currency Group, a company helping to build the foundation of the digital currency and blockchain technology industry.  The trusted authority on digital currency investing, Grayscale provides unparalleled market insight and investment exposure to the developing digital currency asset class. The first in Grayscale's line of investment products, the Bitcoin Investment Trust provides access to the investment opportunity of bitcoin securely and seamlessly. The Bitcoin Investment Trust's shares are the first publicly quoted securities (ticker: GBTC) solely invested in and deriving value from the price of bitcoin.

More information regarding Grayscale can be found at www.grayscale.co.  Grayscale and the firm's first product can be followed at @GrayscaleInvest and @BitcoinTrust, respectively.

Media Contact: 
Michael Sonnenshein 
212-668-3911 
press@grayscale.co 

Before investing you should carefully consider the fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting www.ark-funds.com. Please read the prospectus carefully before you invest.

All statements made herein by ARK are strictly beliefs and points of view held by ARK. Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on ARK's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. ARK assumes no obligation to update any forward-looking information contained herein. Although ARK has taken reasonable care to ensure that the information contained herein is accurate, no representation or warranty (including liability towards third parties), expressed or implied, is made by ARK as to its accuracy, reliability or completeness. References to securities or investment products are not a recommendation to buy, hold, or sell such securities or products. An investment in any security is subject to risks and you can lose money on your investment. There can be no assurance that any investment product will achieve its investment objectives. Detailed information regarding the specific risks of a security or investment product can be found in its prospectuses or offering documents. ARK and its clients as well as its related persons may (but do not necessarily) have financial interests in securities or issuers that are discussed herein.

The principal risks of investing in ARKW include: Equity Securities Risk. The value of the equity securities the Fund holds may fall due to general market and economic conditions. Foreign Securities Risk. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities. Information Technology Sector Risk. Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Detailed information regarding the specific risks of ARKW can be found in its prospectus. Additional risks of investing in ARKW include market, management and non-diversification risks, as well as fluctuations in market value and NAV. An investment in an ETF is subject to risks and you can lose money on your investment in an ETF.

SOURCE ARK Investment Management

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