Ark Invest has raised $16.3 million for a new crypto fund. The two new entities will be based in the US and the Cayman Islands.

The documents were filed with the US Securities and Exchange Commission (SEC) this week. Ark Crypto Revolutions US Fund, which is part of Catherine Wood’s Ark Invest, has raised almost $7.3 million from nine investors. Ark Crypto Revolutions Cayman has also raised almost $9 million from a single sponsor.

The fund will be open to a small number of investors, according to the documents.

- Article Inline Advertisement 1-

Ark Invest filed with the SEC just days after buying more than 300,000 more shares of U.S. crypto exchange Coinbase. The purchase amount was $20.6 million.

Wood is considered a strong supporter of cryptocurrencies, and Ark Invest, which she leads, has repeatedly bought shares in Coinbase. In February alone, the company spent $6.7 million to buy 16,414 shares of the crypto exchange.

- Advertisement -

Earlier, Wood said that during the current banking crisis in the United States, cryptocurrencies began to be perceived not as a risky asset, but as a protective one. The businessman believes that the blame for the collapse of Silicon Valley Bank, Signature and Silvergate lies entirely with the US Federal Reserve and the policies of other regulators.