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Bitcoin (BTC)
$64,376.00 -0.26323
Bitcoin price
Ethereum
Ethereum (ETH)
$3,416.62 -1.51472
Ethereum price
BNB
BNB (BNB)
$571.02 -1.18272
BNB price
Solana
Solana (SOL)
$157.04 -3.12494
Solana price
XRP
XRP (XRP)
$0.6101810 3.53626
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000187 -4.18437
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000119 -5.50327
Pepe price
Bonk
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$0.0000272 -4.379
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Bitcoin
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$64,376.00 -0.26323
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Ethereum
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$3,416.62 -1.51472
Ethereum price
BNB
BNB (BNB)
$571.02 -1.18272
BNB price
Solana
Solana (SOL)
$157.04 -3.12494
Solana price
XRP
XRP (XRP)
$0.6101810 3.53626
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000187 -4.18437
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000119 -5.50327
Pepe price
Bonk
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$0.0000272 -4.379
Bonk price
Bitcoin
Bitcoin (BTC)
$64,376.00 -0.26323
Bitcoin price
Ethereum
Ethereum (ETH)
$3,416.62 -1.51472
Ethereum price
BNB
BNB (BNB)
$571.02 -1.18272
BNB price
Solana
Solana (SOL)
$157.04 -3.12494
Solana price
XRP
XRP (XRP)
$0.6101810 3.53626
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000187 -4.18437
Shiba Inu price
Pepe
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$0.0000119 -5.50327
Pepe price
Bonk
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$0.0000272 -4.379
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ARK Investment shifts $16m from ProShares to own Bitcoin ETF

ark-investment-shifts-16m-from-proshares-to-own-bitcoin-etf
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ARK Investment shifts $16m from ProShares to own Bitcoin ETF

ARK Investment Management, led by Cathie Wood, divested from the ProShares Bitcoin ETF, reallocating approximately $16 million towards its own Bitcoin ETF. 

This move involved the sale of ProShares Bitcoin ETF (BITO) shares, a pioneering ETF in the Bitcoin futures market in the U.S., and the acquisition of 365,427 shares of ARK 21 Shares Bitcoin ETF (ARKB). 

This adjustment resulted in ARKB accounting for 1% of the ARK Next Generation Internet ETF (ARKW). The value of ARKB shares declined to $43.51 on Tuesday, a significant drop from the initial listing price of $49 on Jan. 11.

Previously, ARK Investment Management had shifted its investments from the Grayscale Bitcoin Trust (GBTC) to BITO in December in anticipation of the U.S. approving direct Bitcoin ETFs.

Cathie Wood had expressed confidence in investing in an already approved fund over one pending approval. This latest portfolio reshuffling aligns with ARK’s ongoing strategy to optimize its position in the evolving landscape of cryptocurrency investments.

ARK’s 21Shares Bitcoin ETF currently offers one of the lowest fees at 0.21%. Leading crypto exchange Coinbase acts as the custodian of ARK’s ETF.