Asset management firm, Ark Invest, has made a strategic move by acquiring over 125,000 shares of Nu Holdings (NYSE: NU) this week.
The fintech-focused fund initially invested in the South American digital bank in 2022, proving to be a lucrative decision amid Nu Holdings’ remarkable growth, with a 140% surge in the past year.
Nubank has a crypto trading app that allows its users to trade Bitcoin and Ethereum. Additionally, the app enables customers to buy, hold, and sell crypto from the same platform.
Nu Holdings, a prominent player in the competitive fintech sector, boasts impressive figures, with around 50% of Brazilian adults holding a Nubank account.
This achievement has propelled the platform to become the fourth-largest financial institution in Brazil by customer count. Bolstered by another high-growth year in 2023, Nu’s customer base has surpassed 90 million across Latin America.
Warren Buffett’s early recognition of Nu’s potential is evident through Berkshire Hathaway’s $750 million investment in 2021, currently valued at over $956 million.
Notably, Cathie Wood’s Ark Fintech Innovation ETF re-entered the Nu market, acquiring shares and bringing the bank’s weighting in the fund to 1.73%, totaling just under $19 million.
Cathie Wood’s re-entry into Nu Holdings signals confidence in its sustained growth, aligning with Warren Buffett’s early recognition, making it a compelling investment in the dynamic fintech landscape.
Also Read: Ark Invest Continues Selling Spree, Drops $20M of Coinbase
