ARK Invest, led by Cathie Wood, recently completed the sale of its remaining shares in ProShares Bitcoin Strategy ETF (BITO). The investment firm sold 237,983 BITO shares from its Next Generation Internet ETF (ARKW) for $6.7 million at Thursday’s closing price of $28.22.
ARK initially purchased over 4 million BITO shares late last year as a short-term investment in anticipation of the approval of spot bitcoin ETFs in the U.S. Following consistent sales in January, ARK has now fully divested its BITO holdings.
On the other hand, ARK’s own ARK 21Shares Bitcoin ETF (ARKB) has become the fund’s largest holding, with 2,480,644 shares valued at $160.6 million. This represents a 10.4% weighting of the fund’s total value.
Overall, ARK’s strategic moves in the cryptocurrency market reflect its dynamic approach to investment opportunities.