Ark Investment Management’s Director of Digital Assets Departs After 6.5 Years
Yassine Elmandjra, the director of digital assets at Ark Investment Management, has announced his departure from the firm after a six-and-a-half-year tenure. Elmandjra expressed his gratitude to Ark CEO Cathie Wood and the entire team for the experiences he had during his time at the firm.
A Legacy of Cryptocurrency Leadership
Elmandjra’s departure marks the end of an era for Ark’s digital assets division. Chris Burniske, a partner at Placeholder, was Ark’s original cryptocurrency lead, spearheading the strategy, product development, and research around cryptocurrencies after the firm’s launch in 2014. Following Burniske’s tenure, Elmandjra built one of the best cryptocurrency teams in the industry, according to Wood. Under Elmandjra’s leadership, Ark Invest launched Bitcoin and Ethereum spot ETFs in the U.S. last year.
A Focus on Disruptive Technologies
Ark Investment Management was founded by Cathie Wood, former chief investment officer (CIO) at AllianceBernstein, with a focus on disruptive technologies such as blockchain, artificial intelligence, CRISPR gene editing, and electric vehicles. The firm’s ARK Innovation ETF has Coinbase (COIN) as one of its top holdings, with an 8.29% weighting.
A Bullish Outlook on Bitcoin
Last year, Wood predicted that the price of Bitcoin could hit $1.5 million by 2030. While Elmandjra’s departure may mark a new chapter for Ark’s digital assets division, the firm’s commitment to cryptocurrency and disruptive technologies remains unchanged.
Conclusion
Yassine Elmandjra’s departure from Ark Investment Management marks the end of an era for the firm’s digital assets division. During his tenure, Elmandjra built a top-notch cryptocurrency team and oversaw the launch of Bitcoin and Ethereum spot ETFs in the U.S. As Elmandjra embarks on his next chapter, Ark Investment Management remains committed to its focus on disruptive technologies, including cryptocurrency.
#Cryptocurrency #Altcoin #Web3 #DeFi
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