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International Business Times
International Business Times
Business
Nica Osorio

ARK Invest's Latest Maneuver Reveals Strategic Play Of Boosting ARKB Holdings While Shedding BITO

ARKB Ark Invest Bitcoin ETF Cathie Wood BlackRock Bloomberg Intelligence Grayscale Bitcoin Trust
2% Long-Term Interest Rates? | ITK with Cathie Wood (Credit: YouTube Screenshot/ Ark Invest Official YouTube Chanel)

Cathie Wood's ARK Invest demonstrated its commitment to its strategic investment strategy by actively acquiring shares of its Ark 21Shares Spot Bitcoin ETF (ARKB). The company intends to incorporate these shares into its actively managed exchange-traded fund (ETF), the Next Generation Internet ETF (ARKW).

ARK Invest acquired a total of 523,541 ARKB shares at a value of $21 million while shedding off 648,091 shares of the ProShares Bitcoin Strategy ETF (BITO), generating proceeds amounting to $12.85 million from this divestment.

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