One observation gleaned from the activities of ARK Invest under Cathie Wood is the firm’s recent changes in its cryptocurrency investment strategy. The firm has notably increased its investment in the ARK 21Shares Bitcoin ETF (ARKB) while reducing its stake in the ProShares Bitcoin Trust ETF (BITO).

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• ARK Invest shifts strategy, selling $42.7 million of ProShares Bitcoin Trust ETF (BITO) shares and significantly increasing holdings in its own ARK 21Shares Bitcoin ETF (ARKB) by $62.3 million.
• ARKW fund’s portfolio now includes 5.98% ARKB shares, reducing its BITO stake to a mere 0.46%.
• The firm anticipates U.S. approval for spot bitcoin ETFs, aligning its portfolio to capitalize on upcoming market developments.

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ARK Invest Increases Holdings in ARKB, Decreases BITO Exposure

In a strategic shift, ARK has sold 2,226,191 shares of BITO since January 19, translating to approximately $42.8 million based on the ETF’s closing price of $19.22 last Thursday. Concurrently, ARK has ramped up its ARKB shares by purchasing 1,563,619 shares, valued at an estimated $62.3 million. ARKB’s modest closing increase to $39.87 indicates a slight 0.68% rise.

The investment decisions align with ARK’s anticipation of a potential U.S. approval for spot bitcoin ETFs, following its sale of Grayscale Bitcoin Trust (GBTC) shares late last year. This transition underscores ARK’s commitment to positioning itself advantageously ahead of market shifts.

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