Cathie Wood’s Ark Invest recently made a pair trade in cryptocurrency exchange-traded funds ahead of the Bitcoin halving. Ark’s ARK Next Generation Internet ETF bought units of ProShares Ether Strategy ETF worth $2.81 million and sold units of ProShares Bitcoin Strategy ETF worth $813,102. They also increased their holdings in their ARK 21Shares Bitcoin ETF. The Bitcoin halving occurred late Friday, leading to subdued sentiment in the market.
Ark also chose not to purchase Tesla shares on Friday, despite buying them in three sessions last week. Tesla recently slashed prices of all EV trims in China and most in the U.S., leading to concerns about their upcoming earnings report. Tesla is the top holding of Ark’s flagship ETF, the Ark Innovation ETF.
ARKK ended Friday’s session down 2.12% to $42.