JUST IN: Cathie Wood’s Ark Invest Buys Additional $21M in Bitcoin ETF

Ark Invest, led by Cathie Wood, has significantly increased its investment in the bitcoin market. On Monday, the firm acquired an additional $21 million worth of shares in its own bitcoin-based spot ETF, known as the Ark 21Shares Bitcoin ETF (ARKB). This latest investment raises Ark Invest’s total holdings in the fund to approximately $64 million. The purchase was made through the Ark Next Generation ETF (ARKW), marking the firm’s fourth substantial buy since the ARKB’s launch on January 10. In a strategic shift, Ark Invest also sold off 648,091 shares of the ProShares Bitcoin Strategy ETF, valued at nearly $12.85 million. This move reflects Ark’s ongoing focus on expanding its bitcoin-related investments, aligning with the recent SEC approval of multiple U.S. bitcoin-based spot ETFs.

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