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ARK Invest Dumps GBTC for ProShares Bitcoin ETF, Buys Ark 21Shares and Sells Coinbase Stock

ARK Invest Dumps GBTC for ProShares Bitcoin ETF, Buys Ark 21Shares and Sells Coinbase Stock

CointimeCointime2023/12/28 10:57
By:Cointime

ARK Invest has purchased 4.3 million shares of the ProShares Bitcoin Strategy ETF, valued at $9.2 million, after selling its remaining holdings in the Grayscale Bitcoin Trust. The investment firm also sold $27.6 million worth of Coinbase stock and bought 20,000 shares of the Ark 21Shares Active Bitcoin Future Strategy ETF. The ProShares ETF now accounts for 5.03% of the ARK Next Generation Internet ETF and is its sixth-largest holding, while Coinbase remains the fund's largest holding at just under 12%. These changes in holdings come ahead of the Securities and Exchange Commission's expected decision next month on whether to allow spot bitcoin ETFs to trade in the US.

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