Cathie Wood-led Ark Investment Management firm on Friday snapped up 123,786 shares, estimated to be worth $88.74 million, in $Twitter Inc(TWTR.US)$, a day after CEO Jack Dorsey told investors that apex cryptocurrency $Bitcoin(BTC.CC)$ will be a "big part" of the social media company's future.
Shares of Twitter closed 3.05% higher at $71.69 on Friday.
In a post-earnings call, Dorsey told investors he sees a potential to integrate the cryptocurrency with Twitter products and services and believes Bitcoin is the "best candidate" to become the native currency of the Internet.
Dorsey is also the founder of payments company $Square, INC.(SQ.US)$, which has invested in the apex cryptocurrency.
Ark Invest deployed the two ETFs — the $ARK Innovation ETF(ARKK.US)$ and the $ARK Next Generation Internet ETF(ARKW.US)$ — to buy the shares in the San Francisco, California-based company. No other Ark ETF holds shares of Twitter.
Twitter is now ARKW's third-largest investment among a total of 50 stocks and the twentieth-largest investment among a total of 50 stocks for ARKK.
The two ETFs together held over 10.9 million TWTR shares, worth about $759.13 million, as of Friday.
The popular investment firm had earlier this month, in its last trade on the Twitter stock, shed an estimated $9 million worth of shares.
Some of the other key Ark Invest buys on Friday included $QUANTUM-SI INC(QSI.US)$, $UiPath, Inc.(PATH.US)$, and $DraftKings Inc(DKNG.US)$ and sells included $NINTENDO CO LTD(NTDOY.US)$, and $Roku Inc(ROKU.US)$.
Source: ARK Trading
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