Grayscale Bitcoin Trust (GBTC) was among the top performers at Cathie Wood's ARK Invest in Q2 2023, contributing to the success of its ARK Next Generation Internet exchange-traded fund (ARKW).

GBTC was one of the top five drivers of ARKW's growth, accounting for 108 basis points at ARKW. Although GBTC was a top performer, it trails Coinbase in terms of asset allocation at ARKW. ARKW had nearly 20% of assets related to cloud computing and about 19% related to blockchain in Q2.