ARK Invest has invested a substantial $15.9 million
in its recently-listed spot Bitcoin exchange-traded fund (ETF), ARK 21Shares
Bitcoin ETF (ARKB). In a parallel move, the firm has sold $15.8 million worth
of shares in the ProShares Bitcoin Strategy ETF (BITO).
According to Coindesk, ARK Invest demonstrated its
commitment to its Bitcoin-related endeavors by acquiring 365,427 shares of the
ARK 21Shares Bitcoin ETF (ARKB). This significant purchase was made within the
framework of ARK’s Next Generation Internet ETF (ARKW).
ARK Invest, led by renowned investor Cathie Wood,
shifted from its holdings in the Grayscale Bitcoin Trust (GBTC) in December,
opting for BITO shares in anticipation of the conversion of GBTC into a Bitcoin
ETF. Cathie Wood emphasized the security of an already approved fund over one
awaiting approval, anticipating further regulatory green lights.
With the approval of spot bitcoin ETFs in the U.S.,
industry experts anticipate ARK to exchange some of its BITO shares for a spot
bitcoin ETF. The move underscores ARK’s proactive approach to aligning its
investment portfolio with the evolving landscape of cryptocurrency and ETF
markets.
Expect ongoing updates as this story evolves.
ARK Invest has invested a substantial $15.9 million
in its recently-listed spot Bitcoin exchange-traded fund (ETF), ARK 21Shares
Bitcoin ETF (ARKB). In a parallel move, the firm has sold $15.8 million worth
of shares in the ProShares Bitcoin Strategy ETF (BITO).
According to Coindesk, ARK Invest demonstrated its
commitment to its Bitcoin-related endeavors by acquiring 365,427 shares of the
ARK 21Shares Bitcoin ETF (ARKB). This significant purchase was made within the
framework of ARK’s Next Generation Internet ETF (ARKW).
ARK Invest, led by renowned investor Cathie Wood,
shifted from its holdings in the Grayscale Bitcoin Trust (GBTC) in December,
opting for BITO shares in anticipation of the conversion of GBTC into a Bitcoin
ETF. Cathie Wood emphasized the security of an already approved fund over one
awaiting approval, anticipating further regulatory green lights.
With the approval of spot bitcoin ETFs in the U.S.,
industry experts anticipate ARK to exchange some of its BITO shares for a spot
bitcoin ETF. The move underscores ARK’s proactive approach to aligning its
investment portfolio with the evolving landscape of cryptocurrency and ETF
markets.
Expect ongoing updates as this story evolves.
