ARK Invest, led by Cathie Wood, recently made significant changes to its investment portfolio concerning Bitcoin-related ETFs. The firm purchased $15.9 million worth of shares in the ARK 21Shares Bitcoin ETF (ARKB), which it recently listed, adding 365,427 shares to its Next Generation Internet ETF (ARKW). However, ARKB's share value has declined by about 11% since its listing on January 11, closing at $43.51 on Tuesday.
Simultaneously, ARK Invest sold approximately $15.8 million worth of shares in the ProShares Bitcoin Strategy ETF (BITO), the first U.S. ETF linked to the Bitcoin futures market. This move followed ARK's decision in December to offload its holdings in the Grayscale Bitcoin Trust (GBTC) prior to its conversion into a Bitcoin ETF. ARK had replaced its GBTC shares with BITO, with Cathie Wood expressing preference for an already approved fund over one awaiting approval.
