ARK Invest continues the shift from the ProShares Bitcoin Strategy ETF (BITO) to the recently listed Spot Bitcoin ETF.
According to a trading statement sent on January 18, the ARK Next Generation Internet ETF (ARKW) sold 758,915 shares of BITO, worth approximately $15 million, and bought 365,695 shares of ARKB, its Bitcoin exchange-traded fund, also worth $15 million. .
CoinDesk previously reported that ARK sold its holdings in GBTC and acquired BITO shares, anticipating the approval of a Bitcoin ETF in the US, with plans to swap BITO for a spot Bitcoin ETF upon approval, making the move expected.