Jan 18, 2024

ARK Buys $15.9M Worth of Its Own Bitcoin ETF

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% […] 
 Jan 18, 2024

ARK Buys $15.9M Worth of Its Own Bitcoin ETF

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.

Market Mondays

WORLD TOUR

GHANA: Edition

Join Earn Your Leisure on Market Mondays in Ghana, December 27, 2023
PURCHASE TICKETS

RELATED NEWS

Shop EYL Merch

SHOP ALL >
Join The Earn Your Leisure Newsletter

Stay up-to-date with the latest news in Business, Investing and Real Estate.

*by clicking Subscribe you agree to our Terms of Service and Privacy Policy