Share this article
ARK Bought $62.3M Worth of Own ETF in Last Week; Sold $42.7M of BITO
ARKW now holds $91.4 million of ARKB, constituting a 5.98% weighting of the fund's total value
Updated Mar 8, 2024, 8:33 p.m. Published Jan 26, 2024, 10:29 a.m.
ARK Invest continued to offload shares of ProShares Bitcoin Trust ETF (BITO) in the last week while accumulating its own spot bitcoin exchange-traded fund.
Cathie Wood's investment firm sold a total of 2,226,191 shares of the bitcoin futures ETF since Jan. 19, worth around $42.8 million at Thursday's closing price of $19.22, from its Next Generation Internet ETF (ARKW).
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Meanwhile, it has bought 1,563,619 shares in the ARK 21 Shares Bitcoin ETF (ARKB), worth approximately $62.3 million. ARKB closed on Thursday at $39.87, up a negligible 0.68% on the day.
ARK held BITO as a short-term play having offloaded its shares of the Grayscale Bitcoin Trust (GBTC) late last year, in anticipation of approval of spot bitcoin ETFs in the U.S., with plans to swap BITO for a spot bitcoin ETF once the approval came.
Advertisement
ARKW now holds $91.4 million of ARKB, constituting a 5.98% weighting of the fund's total value. Its BITO shares now number just 366,128 at a value of $7 million, a 0.46% weighting.
Read More: Bitcoin ETF Flows Show Negative Trend For First Time Since Launch
Mehr für Sie
This article is created to test tags being added to image overlays
Dek: This article is created to test tags being added to image overlays
Was Sie wissen sollten:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
Top Stories
