In anticipation of the Bitcoin (BTC) halving, ARK Invest, led by Cathie Wood, made significant moves reflecting the hedge fund’s optimistic outlook on the cryptocurrency’s future trajectory.
One of the standout transactions was ARK’s purchase of 139,152 units of its proprietary spot Bitcoin ETF, the ARK 21Shares Bitcoin ETF, valued at $8.96 million. This acquisition came on the heels of another substantial buy worth $31.19 million of the same ETF the previous day.
In addition to Bitcoin, ARK diversified its portfolio by investing $2.78 million in 41,068 shares of the ProShares Ether Strategy ETF (EETH). This purchase was complemented by an earlier buy of $2.9 million worth of EETH shares on April 18.
However, alongside acquisitions, ARK also made some adjustments to its portfolio, selling 28,936 shares of the ProShares Bitcoin Strategy ETF (BITO) for approximately $803,552.
These moves were deemed significant by analysts, particularly considering their timing just hours before the highly anticipated Bitcoin halving event. Despite the subdued sentiment in the crypto market following the halving, Cathie Wood expressed unwavering confidence in Bitcoin’s long-term potential, as evidenced by ARK’s substantial investments in BTC ETFs.
In a recent interview, Wood elaborated on ARK’s investment strategies, emphasizing optimism towards transformative technologies like artificial intelligence, electric vehicles, and cryptocurrencies.
ARK Invest has also made headlines in Europe with the launch of its first three European UCITS ETFs, marking its expansion into the global market and addressing the increasing demand for its investment products. These ETFs were listed on Deutsche Borse Xetra on April 18, with plans for listing on additional European exchanges in the near future.
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