Ark sells Grayscale Bitcoin Trust and invests in Bitcoin futures ETF | CoinDesk JAPAN

ARK Invest yesterday bought 4.3 million shares of the ProShares Bitcoin Strategy ETF (BITO) after selling its remaining holdings in the Grayscale Bitcoin Trust (GBTC).

The price of ProShares is valued at $9.2 million (approximately 1,288 million yen, equivalent to 1 dollar = 140 yen) based on the closing price. Cathie Wood’s investment firm also sold $27.6 million worth of Coinbase stock and launched the Ark21Shares Active Bitcoin Future Strategy ETF. I bought 20,000 shares.

ProShares ETF, which began trading in October 2021 as the first Bitcoin-linked ETF in the United States, currently accounts for 5.03% of the ARK Next Generation Internet ETF (ARKW), making it the 6th largest holding ratio. The fund holds no GBTC, with its last sale reported on December 20th. At just under 12%, Coinbase remains the fund’s largest holding after selling 148,885 shares on December 27th.

The change in holdings comes ahead of the Securities and Exchange Commission’s (SEC) decision to allow spot Bitcoin ETFs in the United States. Both Grayscale and Ark21Shares have submitted ETF applications to regulators, and regulators have met with the applicants several times.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Cheyenne Ligon/CoinDesk
｜Original text: Cathie Wood’s ARK Invests in ProShares Bitcoin ETF After Dumping Grayscale Holdings