Bitcoin
$62,436.17-2.38%
Ethereum
$3,190.21-3.41%
Binance Coin
$592.24-1.21%
Solana
$135.93-5.32%
XRP
$0.50649168-2.86%
Dogecoin
$0.14481530-3.31%
Toncoin
$5.38-1.56%
Cardano
$0.45482164-3.78%
Shiba Inu
$0.00002391-3.81%
Avalanche
$33.57-4.00%
Tron
$0.120352050.00%
Wrapped Bitcoin
$62,540.78-2.59%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Countdown to Consensus 2024The largest and longest running event that covers all sides of Crypto and Web 3
30
DAYS
07
HR
45
MIN
37
SEC
Markets

ARK Bought $62.3M Worth of Own ETF in Last Week; Sold $42.7M of BITO

ARKW now holds $91.4 million of ARKB, constituting a 5.98% weighting of the fund's total value

By Jamie Crawley
AccessTimeIconJan 26, 2024 at 10:29 a.m. UTC
Updated Mar 8, 2024 at 8:33 p.m. UTC
Ark Invest CEO Cathie Wood
Ark Invest CEO Cathie Wood (Danny Nelson/CoinDesk)
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

ARK Invest continued to offload shares of ProShares Bitcoin Trust ETF (BITO) in the last week while accumulating its own spot bitcoin exchange-traded fund.

Cathie Wood's investment firm sold a total of 2,226,191 shares of the bitcoin futures ETF since Jan. 19, worth around $42.8 million at Thursday's closing price of $19.22, from its Next Generation Internet ETF (ARKW).

Meanwhile, it has bought 1,563,619 shares in the ARK 21 Shares Bitcoin ETF (ARKB), worth approximately $62.3 million. ARKB closed on Thursday at $39.87, up a negligible 0.68% on the day.

ARK held BITO as a short-term play having offloaded its shares of the Grayscale Bitcoin Trust (GBTC) late last year, in anticipation of approval of spot bitcoin ETFs in the U.S., with plans to swap BITO for a spot bitcoin ETF once the approval came.

ARKW now holds $91.4 million of ARKB, constituting a 5.98% weighting of the fund's total value. Its BITO shares now number just 366,128 at a value of $7 million, a 0.46% weighting.

Read More: Bitcoin ETF Flows Show Negative Trend For First Time Since Launch

Edited by Oliver Knight.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Jamie Crawley
Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.