QCOM - Cathie Wood's Ark Invest Liquidates $15.8M Worth Of ProShares Bitcoin Strategy ETF Units | Benzinga
On Tuesday, Cathie Wood-led Ark Invest made a significant move by selling $15.84 million worth of ProShares Bitcoin Strategy ETF (NYSE:BITO) units. This trade comes amidst a dynamic period in the cryptocurrency market, reflecting Ark Invest’s strategic adjustments in response to evolving market conditions.
The ProShares Bitcoin Strategy ETF Trade
Ark sold 757,664 units of the ProShares Bitcoin Strategy ETF through ARK Next Generation Internet ETF (NYSE:ARKW). For the day, BITO closed at $20.91 — declining 0.7%.
Ark Invest’s decision to sell a substantial portion of its holdings in the ProShares Bitcoin Strategy ETF aligns with recent strategic shifts in the cryptocurrency space. It should be noted that Ark Invest’s bet on BITO for explosive growth came as a part of an earlier shift in investment strategy when it sold its entire remaining position in Grayscale Bitcoin Trust (OTC:GBTC).
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