ARK Invest Shift Strategy: Sells GBTC Holding for $100M Investment

Cathie Wood-led ARK Invest has made a significant shift in its investment strategy by selling off its entire holdings in the Grayscale Bitcoin Trust (GBTC), amounting to approximately $200 million. The firm then redirected half of these funds, about $100 million, into the Bitcoin Futures ETF (BITO). This decision marks a departure from GBTC, which was the most significant holding in ARK's ARKW just a month prior. The move to invest in BITO, the ProShares Bitcoin Strategy ETF, is seen as a strategic reallocation and is part of ARK's continuous adaptation to the evolving cryptocurrency market​​​​​​.

_{Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.}