ARK Invest Reduces ProShares Holdings, Focuses on Own Bitcoin ETF

ARK Investment Management reallocates $16 million from ProShares Bitcoin ETF

ARK Investment Management, led by Cathie Wood, has made a strategic move in the cryptocurrency market by divesting from the ProShares Bitcoin ETF (BITO) and reallocating approximately $16 million towards its own Bitcoin ETF. This maneuver showcases ARK’s confidence in its own product and the potential it sees in the future of Bitcoin.