ARK Invest has sold a total of 2,226,191 shares of the ProShares Bitcoin Trust ETF since Jan. 19, worth around $42.8 million at Thursday’s closing price of $19.22, from its Next Generation Internet ETF (ARKW). Meanwhile, it has bought 1,563,619 shares in the ARK 21 Shares Bitcoin ETF (ARKB), worth approximately $62.3 million. ARK held BITO as a short-term play having offloaded its shares of the Grayscale Bitcoin Trust (GBTC) late last year, in anticipation of the approval of spot bitcoin ETFs in the U.S., with plans to swap BITO for a spot bitcoin ETF once the approval came. 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.
Stand With Crypto Sets Up Election War Chest, Backs Candidates Seeking Open Seats
The fast-growing organization of cryptocurrency supporters, Stand With Crypto, is getting into campaign financing with the opening of its own...