According to Foresight News, Bloomberg analyst Eric Balchunas tweeted that ARK has sold all its remaining GBTC positions, which were the largest holdings in ARKW a month ago. The firm used approximately half of the $100 million funds to purchase BITO, likely as a 'liquidity transition tool'. Foresight News notes that BITO is a Bitcoin futures ETF launched by ProShares in October 2021.