Ark Invest buys more of its spot bitcoin ETF, sells BITO

Ark Invest has bought more of its spot bitcoin ETF as it continues to dump shares of the largest bitcoin futures fund. 

The fund manager’s Ark Next Generation ETF (ARKW) on Thursday bought 365,695 shares of the spot bitcoin ETF it launched last week with 21Shares, according to a trade notification.  It sold 758,915 shares of the ProShares Bitcoin Strategy (BITO) from the fund that day. 

The move comes after ARKW sold 757,664 of BITO shares on Tuesday, while adding 365,427 shares of the Ark 21Shares Bitcoin ETF (ARKB). 

In total, the roughly 730,000 of ARKB shares added — as well as the 1.5 million of BITO shares sold — were each worth roughly $30 million at 10 am ET on Friday…

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