© Reuters.
NEW YORK – Ark Invest, the investment firm known for its focus on innovative and disruptive technologies, has sold a significant portion of its holdings in the ProShares Strategy ETF (NYSE:BITO). The sale, conducted through the ARK Next Generation Internet ETF (NYSEARCA:ARKW), involved 757,664 units of BITO, with a transaction valued at approximately $15.8 million.
This move is part of a broader rebalancing effort by Ark Invest, as it transitions from the Grayscale Bitcoin Trust (OTC:GBTC) to its own Ark21Shares Bitcoin ETF (NYSEARCA:ARKB). The move signals a strategic reallocation within Ark's portfolio, focusing more on its proprietary Bitcoin ETF offering.
Despite the sale, Cathie Wood, CEO of Ark Invest, remains optimistic about the future of Bitcoin. Wood has projected a significant rise in the value of Bitcoin, suggesting it has the potential to reach $1.5 million by 2030. Her bullish outlook on the cryptocurrency underscores the confidence she and her company have in its long-term prospects. of digital assets.
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