Cathie Wood’s ARK Invest has maintained its strategic investment approach by accumulating shares of its Ark 21Shares Spot Bitcoin ETF (ARKB) for inclusion in its Next Generation Internet ETF (ARKW), according to the company’s latest trade filing seen by CryptoSlate.
In this recent transaction, ARK Invest acquired 523,541 ARKB shares at $21 million while divesting 648,091 units of ProShares Bitcoin Strategy ETF (BITO) for $12.85 million.
This move continues ARK’s effort to bolster its position in its BTC-based spot ETF. On Jan. 17, CryptoSlate reported that the firm acquired its first tranche of ARKB’s ETF shares for $15.8 million after selling a significant sum of its BITO holdings.
At the time, market observers explained that the investment would help ARKB’s competitive position in the market. Nate Geraci, founder of ETF Store, said, “Rightly or wrongly, assets under management (AUM) optics matter in spot bitcoin ETF competition.”
Lukas Kozak, a hedge fund manager, also
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