Ark 21Shares Bitcoin ETF Continues To Be Extremely Acquired By Cathie Wood

Key Points:

• Cathie Wood’s ARK Invest strategically acquires 360,830 shares of Ark 21Shares Bitcoin ETF while selling 585,915 shares of ProShares Bitcoin Strategy ETF.
• Wood reiterates her positive stance on Bitcoin, emphasizing its endorsement by the world’s largest computer network.

In a recent trade filing, Cathie Wood’s ARK Invest has reaffirmed its strategic investment strategy, disclosing the accumulation of shares in its Ark 21Shares Bitcoin ETF (ARKB) for integration into its Next Generation Internet ETF (ARKW).

Read more: In Which Countries Is Spot Bitcoin ETF Currently Approved?

Cathie Wood Bullish on Ark 21Shares Bitcoin ETF Amidst Intense ETF Competition

The latest data from Ark Invest Daily reveals the acquisition of 360,830 ARK 21Shares Bitcoin ETF shares on January 23, valued at approximately $14.15 million. Simultaneously, the firm sold 585,915 shares of ProShares Bitcoin Strategy ETF (BITO), amounting to about $11.09 million.

This follows ARK Invest’s prior purchase of 523,541 ARKB shares at $21 million, coupled with the sale of 648,091 units of BITO for $12.85 million. The continuous support from its sister fund positions Ark 21Shares Bitcoin ETF advantageously in the competitive landscape of spot Bitcoin ETFs, especially after the recent approval by the Securities and Exchange Commission for 10 such ETFs to launch simultaneously.

Cathie Wood, the CEO of Ark Invest, emphasized on January 19 that Bitcoin is underpinned by the world’s largest computer network, emphasizing her optimistic outlook on the cryptocurrency. She contends that the Bitcoin network surpasses the combined size of the clouds developed by Amazon, Google, and Microsoft over the last two decades.

In a strategic move, Bloomberg Intelligence had previously predicted that Ark Invest would shift its position from the Grayscale Bitcoin Trust (GBTC) to bolster ARKB’s asset base. The importance of flows and volumes in marketing an ETF was underscored by analysts, highlighting the significance of these factors for the fund’s success.

As of now, the Ark 21Shares Bitcoin ETF holds the fourth position among spot Bitcoin ETFs after five days of trading, trailing behind BlackRock, Fidelity, and Bitwise, according to Bloomberg Intelligence data.