ARK Invest: Bitcoin Fundamentals Remain Bullish into Q4 Amid Growing Institutional Ownership

ARK: Bitcoin Fundamentals Stay Bullish Into Q4 as ETFs Hold 12.2% of Total Supply In a recent report, ARK Invest, a prominent investment firm led by Cathie Wood, has highlighted the bullish fundamentals of bitcoin heading into the fourth quarter. According to the report, institutional entities now hold more than 12% of bitcoin's total supply, indicating rising demand and strong on-chain positioning. The report notes that the increasing institutional ownership is driven by the growing recognition of bitcoin as a store of value and a hedge against inflation. "We believe that the fundamentals of bitcoin remain bullish, with macro tailwinds such as inflation, interest rates, and economic growth all supporting its price," said Cathie Wood, CEO of ARK Invest. The report also highlights the increasing adoption of bitcoin by institutional investors, with over 12% of the total supply held in ETFs. This trend is expected to continue, with more institutions looking to diversify their portfolios and gain exposure to the digital asset. ARK Invest's analysis suggests that the current market conditions are favorable for bitcoin, with a strong on-chain positioning and rising demand from institutional investors. The firm believes that this momentum will carry over into the fourth quarter, potentially leading to further gains in the price of bitcoin. The report provides valuable insights into the current state of the bitcoin market and highlights the growing recognition of the digital asset as a legitimate store of value. As the adoption of bitcoin continues to grow, it is essential for investors to understand the underlying fundamentals driving its price. ARK Invest's bullish outlook on bitcoin is in line with other industry experts who have highlighted the potential for further gains in the fourth quarter. "We believe that the current market conditions are ripe for a significant rally in bitcoin," said a spokesperson for ARK Invest. The report also notes that the increasing adoption of bitcoin by institutional investors has led to a decrease in the overall supply of the digital asset, making it scarcer and potentially more valuable. This trend is expected to continue, with more institutions looking to gain exposure to the digital asset. As the fourth quarter approaches, investors will be closely watching the developments in the bitcoin market. With ARK Invest's bullish outlook and the growing recognition of bitcoin as a legitimate store of value, it remains to be seen whether the price of bitcoin will continue its upward trend. Background: ARK Invest is a prominent investment firm led by Cathie Wood, known for its innovative approach to investing in emerging technologies, including cryptocurrencies. The firm has been a strong advocate for bitcoin and has invested heavily in the digital asset. Additional Perspectives: Industry experts have highlighted the potential for further gains in the fourth quarter, citing the growing recognition of bitcoin as a legitimate store of value and the increasing adoption by institutional investors. Current Status: The report highlights the bullish fundamentals of bitcoin heading into the fourth quarter, with rising demand from institutional investors and strong on-chain positioning. The firm believes that this momentum will carry over into the fourth quarter, potentially leading to further gains in the price of bitcoin. Next Developments: As the fourth quarter approaches, investors will be closely watching the developments in the bitcoin market. With ARK Invest's bullish outlook and the growing recognition of bitcoin as a legitimate store of value, it remains to be seen whether the price of bitcoin will continue its upward trend. *Reporting by Coindesk.*