According to Foresight News, Ark Invest recently purchased 523,541 shares of the ARK 21Shares Bitcoin ETF, valued at approximately $21.05 million. In a simultaneous move, the investment firm sold 648,091 shares of the ProShares Bitcoin Strategy ETF, worth around $12.85 million.
The transactions highlight Ark Invest's shifting strategy in the cryptocurrency market, as they adjust their holdings in various Bitcoin ETFs. The ARK 21Shares Bitcoin ETF and ProShares Bitcoin Strategy ETF are both investment vehicles that provide exposure to the performance of Bitcoin, allowing investors to gain access to the cryptocurrency without directly owning it.
These moves by Ark Invest may signal their confidence in the ARK 21Shares Bitcoin ETF's potential performance compared to the ProShares Bitcoin Strategy ETF. However, it is important to note that investment strategies can change over time, and this recent activity may not necessarily indicate a long-term commitment to one ETF over the other.
