ARK Shifts from BITO, Invests $15M in Own ETF

• Changes in ARK Invest's Recent Bitcoin Strategy
• ARK Next Generation Internet ETF's Recent Trades
• Previous and Future Bitcoin Strategies

Changes in ARK Invest's Recent Bitcoin Strategy

ARK Invest has been adjusting its investment strategy, transitioning from ProShares Bitcoin$42,260 -0.64% Strategy ETF (BITO) to its own newly launched spot bitcoin ETF. This information was revealed through a trading disclosure on January 18th.

ARK Next Generation Internet ETF's Recent Trades

The ARK Next Generation Internet ETF (ARKW) has reportedly sold off 758,915 shares of BITO, equating to a value of roughly $15 million. In a parallel move, ARKW has purchased 365,695 shares of its own bitcoin ETF, ARKB, also valued at $15 million.

Previous and Future Bitcoin Strategies

This recent trade mirrors the fund's actions on the previous Wednesday, where similar quantities of BITO were exchanged for ARKB. It has been reported earlier that ARK had divested its stakes in GBTC in favor of acquiring BITO shares. This was done in anticipation of the approval of spot bitcoin ETFs in the U.S., and with intentions to further swap BITO for a spot bitcoin ETF once approval was granted, as per the expectation.

Edited by Jonathan Stoker