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AFSM - On The Correlation Between ARK Innovation ETF And Bitcoin
First Trust Exchange-Traded Fund VIII - First Trust Active Factor Small Cap ETF
Most individual investors that bought bitcoin didn’t buy it to transact in it but because it was going up. It stands to reason that if they bought it because it was going up, they may sell it if it starts going down too sharply.
Bitcoin has a serious correlation with the ARK Innovation Fund, the actively managed ETF that is famous for holding “story” stocks with little or no earnings.
Both bitcoin and the ARK Innovation Fund have “dead-cat-bounced” at the end of 2021. Still, the fund looks quite a bit more ominous than bitcoin.