ARK Invest has been reported to continue offloading the ProShares Bitcoin Trust Fund ETF (BITO), while increasing its holdings in its own spot Bitcoin exchange-traded fund. Over a week from January 19, the investment firm has sold off 2,226,191 shares of BITO, which corresponds to an approximate value of $42.8 million based on Thursday's closing share price of $19.22.
During the same period, ARK Invest significantly ramped up its investment in the ARK 21 Shares Bitcoin ETF (ARKB), purchasing 1,563,619 shares valued about $62.3 million, with ARKB closing at $39.87 on Thursday, marking a modest single-day increase of 0.68%. It's noteworthy that ARK Invest previously utilized BITO as a short-term investment and liquidated its shares in Grayscale Bitcoin Trust (GBTC) late last year in anticipation of an approval for a spot Bitcoin ETF in the United States.