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TechFlow reported, Bloomberg ETF analyst Eric Balchunas said on X that today ARK Invest sold its entire remaining GBTC position (which was the largest holding in ARKW just a month ago) and used about half of the proceeds (around $100 million) to purchase BITO shares, possibly as a transitional instrument.
BITO is a Bitcoin futures ETF launched by ProShares in October 2021.
Bloomberg ETF analyst Eric Balchunas said on X that today ARK Invest sold its entire remaining GBTC position (which was the largest holding in ARKW just a month ago) and used about half of the proceeds (around $100 million) to purchase shares of BITO, possibly as a transitional instrument. Notably, BITO is the bitcoin futures ETF launched by ProShares in October 2021.
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