© Reuters.
NEW YORK – Ark Invest, the investment firm known for its focus on innovative and disruptive technologies, has divested a significant portion of its holdings in the ProShares Bitcoin Strategy ETF (NYSE:BITO). The sale, conducted through the ARK Next Generation Internet ETF (NYSEARCA:ARKW), involved 757,664 units of BITO, with the transaction valued at approximately $15.8 million.
The move is part of a broader rebalancing effort by Ark Invest, which is moving from the Grayscale Bitcoin Trust (OTC:GBTC) to its own Ark21Shares Bitcoin ETF (NYSEARCA:ARKB). This change indicates a strategic reallocation within Ark’s portfolio, which is focusing more on its proprietary Bitcoin ETF offering.
Despite this sell-off, Cathie Wood, CEO of Ark Invest, remains optimistic about the future of bitcoin. She predicts a significant increase in the value of bitcoin, suggesting it could reach $1.5 million by 2030. Her optimistic view of the cryptocurrency underscores the confidence she and her company have in the prospects ahead. long term of digital assets.
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