ARK Invest Sells ProShares Bitcoin ETF in Crypto Holdings Shift

ARK Invest Shifts Cryptocurrency Strategy, Sells ProShares Bitcoin ETF

ARK Invest, the investment firm headed by Cathie Wood, has recently made some significant changes to its cryptocurrency investment strategy. One of their flagship ETFs, the ARK Next Generation Internet ETF (ARKW), has sold a substantial number of shares in the ProShares Strategy ETF (BITO). The proceeds from this sale were then redirected into the ARK 21Shares Bitcoin ETF (ARKB). This shift in strategy shows ARK Invest’s focus on concentrating its investments in Bitcoin and the broader theme of financial innovation within the cryptocurrency market.