ARK Bought $62.3M Worth of Own ETF in Last Week; Sold $42.7M of BITO
Summary
ARK Invest has been selling shares of ProShares Bitcoin Trust ETF (BITO) while buying shares in its own spot bitcoin exchange-traded fund, ARK 21 Shares Bitcoin ETF (ARKB). Since January 19, the firm has sold over 2.2 million BITO shares, worth approximately $42.8 million. In contrast, it has purchased over 1.5 million ARKB shares, valued at around $62.3 million. ARK previously held BITO as a short-term investment, planning to exchange it for a spot bitcoin ETF once approved in the U.S. The firm's Next Generation Internet ETF (ARKW) now holds $91.4 million of ARKB, making up 5.98% of the fund's total value, and $7 million in BITO shares, constituting a 0.46% weighting.
