ARK Invest Sells Last of ProShares Bitcoin Strategy ETF Shares in Anticipation of Spot Bitcoin ETF Approval

ARK Invest, led by Cathie Wood, has sold the last of its shares in ProShares Bitcoin Strategy ETF (BITO) worth $6.7 million. The investment firm had bought over 4 million BITO shares last year as a short-term play in anticipation of the approval of spot bitcoin ETFs in the U.S. Following consistent sales in January, ARK has now sold all of its BITO shares. ARK's own ARK 21Shares Bitcoin ETF (ARKB) is now the fund's largest holding with a 10.4% weighting of the fund's total value.