According to Foresight News, Ark Invest Daily data reveals that Cathie Wood's ARK Invest purchased 127,435 shares of the ARK 21 Shares Bitcoin Spot ETF (ARKB) on January 26th, valued at approximately $5.354 million based on the closing price. In addition, the firm sold 78,345 shares of the ProShares Bitcoin Futures ETF (BITO), worth around $1.59 million based on the closing price.
This move by ARK Invest demonstrates a shift in their investment strategy, favoring the Bitcoin Spot ETF over the Bitcoin Futures ETF. The reasons behind this decision are not explicitly stated in the report, but it could be due to various factors such as market conditions, investment objectives, or risk management considerations.