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Cathie Wood's Ark Invest Buys Over $92M Worth Of ProShares Bitcoin ETF, Sells Coinbase, Block And Palantir Shares

Benzinga ·  Dec 27, 2023 23:19

On Wednesday,Cathie Wood-ledArk Investmade a significant move in the cryptocurrency space, purchasing over $92 million worth ofProShares Bitcoin Strategy ETF(NYSE:BITO). This trade comes amidst a dynamic period in the crypto market, aligning with Ark Invest's strategic adjustments in response to evolving market conditions.

The ProShares Bitcoin Strategy ETF Trade

Ark purchased 4,320,928 units of BITO throughARK Next Generation Internet ETF(NYSE:ARKW) on Wednesday. For the day, BITCO closed 3.2% higher at $21.31. The transaction was valued at $92.08 million.

Ark Invest's acquisition of the ProShares Bitcoin Strategy ETF represents a substantial investment in the...

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