Cathie Wood’s ARK Invest Company Ends 2023 with a Big Shift Ahead of Spot Bitcoin ETFs!

  • According to a trading disclosure on Wednesday, the Next Generation ETF purchased over $92 million worth of shares in the ProShares Bitcoin Strategy ETF.
  • The latest asset data for the ETF did not include Grayscale. The Next Generation ETF also bought 20,000 shares of the ARK 21Shares Active Bitcoin Futures Strategy ETF.
  • Both Ark and 21Shares have a Bitcoin ETF application awaiting approval by January 10th. The price of Bitcoin has significantly increased in recent months.

Changes at ARK Invest are raising curiosity following an interview with Cathie Wood: Shares have been sold!

ARK Invest Makes Critical Changes

ARK-Invest

Cathie Wood is concluding 2023 with a revision to her crypto-related assets ahead of the expected decision on spot Bitcoin exchange-traded funds (ETFs) in early January. According to a trading disclosure on Wednesday, ARK Invest’s Next Generation ETF purchased over $92 million worth of shares in the ProShares Bitcoin Strategy ETF.

On the same day, based on its data, the ETF sold the remaining 2.25 million shares of the Grayscale Bitcoin Trust. Grayscale will learn next month whether its Bitcoin ETF application will be successful; just a month ago, it was the largest holding of the Next Generation ETF. However, ARK has continued to reduce its position in recent weeks.

The latest asset data for the ETF did not include Grayscale. The Next Generation ETF also bought 20,000 shares of the ARK 21Shares Active Bitcoin Futures Strategy ETF and sold 148,885 shares of Coinbase, according to the trading disclosure on Wednesday.

Wood is expecting a “sell the news” event

In an interview this week, Wood stated that if the U.S. Securities and Exchange Commission (SEC) approves spot Bitcoin ETFs, she expects investors to “sell on the news,” but the long-term outlook will be positive.

Both Ark and 21Shares have a Bitcoin ETF application awaiting approval by January 10th. The price of Bitcoin has significantly increased in recent months, rising by 59% in the fourth quarter of 2023 and 158% for the year, expecting approval for the ETF in the new year. ARK Next Generation ETF has gained 103% in value in 2023.

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