Ark buys $62.3 million worth of its own ETFs, BITO sells $42.8 million worth | CoinDesk JAPAN

ARK Invest sold the ProShares Bitcoin Strategy ETF (BITO) last week while adding to its spot Bitcoin exchange-traded fund (ETF).

Cathie Wood’s investment firm has sold a total of 2,226,191 shares of the Bitcoin futures ETF BITO from the Next Generation Internet ETF (ARKW) since January 19th. The closing price on January 25th was $19.22, equivalent to approximately $42.8 million (approximately 6.42 billion yen, at an exchange rate of 1 dollar = 150 yen).

On the other hand, it purchased 1,563,619 shares (equivalent to approximately $62.3 million, approximately 9.35 billion yen) of its own Ark21Shares Bitcoin ETF (ARKB). ARKB’s closing price on Thursday was $39.87, an increase of just 0.68%.

Ark sold Grayscale Bitcoin Trust (GBTC) in anticipation of the approval of a Bitcoin spot ETF in the United States at the end of 2023, and made BITO a short-term investment with the intention of exchanging it for a spot Bitcoin ETF after approval. was held in

ARKW currently holds $91.4 million (approximately 13.7 billion yen) in ARKB, accounting for 5.98% of the total fund value. BITO currently has 366,128 shares, valued at $7 million (approximately 1.05 billion yen), and has a weight of 0.46%.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Danny Nelson/CoinDesk
｜Original: ARK Bought $62.3M Worth of Own ETF in Last Week; Sold $42.7M of BITO