Bitcoin ETF

Bitcoin

Generation

Last Thursday, ARK Invest, led by Cathie Wood, strategically sold its remaining 237,983 shares of the ProShares Bitcoin Strategy ETF (BITO). The sale, worth $6.7 million, occurred at the Thursday closing price of $28.22 from its Next Generation Internet ETF (ARKW).
ARK initially purchased over 4 million BITO shares late last year as a short-term investment, expecting the approval of spot bitcoin ETFs in the U.S. Once the approval materialized, ARK planned to swap them out.
After gradually selling off shares in January, ARK completed the sale of its remaining BITO shares over the past week.&nbsp;
In contrast, ARK’s ARK 21Shares Bitcoin ETF (ARKB) now takes the spotlight as the fund’s leading asset, boasting 2,480,644 <a href="https://ark-funds.com/funds/arkw/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">shares</a> valued at $160.6 million based on Thursday’s closing price of $64.76. This substantial holding constitutes 10.4% of the fund’s overall value.
By reallocating its holdings, ARK demonstrates its confidence in ARKB while adapting to the evolving landscape of cryptocurrency investment.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/04/25/sec-likely-to-reject-ether-etfs-next-month-sources-report/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">SEC Likely to Reject Ether ETFs Next Month, Sources Report</a>
</blockquote>

ARK Dumps ProShares Bitcoin ETF Shares in Massive Sell-Off

The Crypto Times

Other articles published on Apr 26, 2024

Bitcoin Could Outperform S&P 500, Says Crypto Analyst: 'The Inverted Chart Looks Very Interesting'

Top Cryptocurrencies to Explode 10x Following BTC Halving

Top AI-Based Altcoins Poised to Surge by 100% As Bitcoin Hits $67,000!

EU DeFi Rules: Banks Favoured, Crypto Startups Challenge

Bitcoin Miner Marathon Digital Sets Goal to Double Hash Rate by 2024 End

Bitcoin entering most likely 2 weeks for new BTC price dip — Analysis

Join our free newsletter for daily crypto updates!