ARK Buys $15.9M Worth of Its Own Bitcoin ETF
Summary
ARK Invest purchased $15.9 million worth of shares in its own ARK 21Shares Bitcoin ETF (ARKB), adding 365,427 shares to its Next Generation Internet ETF (ARKW). The ARKB shares were bought at a price of $43.51, which is an 11% decrease from its listing price of $49 on January 11. Simultaneously, ARK Invest sold $15.8 million worth of shares in the ProShares Bitcoin Strategy ETF (BITO), the first ETF linked to the bitcoin futures market in the U.S. Prior to this, ARK had sold off its holdings in the Grayscale Bitcoin Trust (GBTC) in December, before GBTC's conversion into a bitcoin ETF. ARK had swapped its GBTC shares for BITO in anticipation of the approval of spot bitcoin ETFs in the U.S.
