The step comes amid the ARK Next Generation Internet ETF offloading $16 million worth of its position in the futures-backed ProShares Bitcoin ETF (NYSE:BITO) on Tuesday.
A quick look at Ark Invest's trade activity from Jan.16 is here.
Bloomberg Intelligence ETF analyst James Seyffart said, “Cathie Wood buying ARKB with her other ETFs is a little bit of a cheat code in raising assets and volume, but she’s not the only issuer that can do this and this isn’t the only cheat code available.”
Why It Matters: Last week, Wood revealed that her personal portfolio has a significant portion invested in Bitcoin. Excluding Ark and real estate, BTC accounts for at least 25% of her net worth.
Bloomberg Senior ETF Analyst Eric Balchunas stated that the total volume for spot Bitcoin ETFs in three days stands at $9.68 billion, compared to $450 million of volume reported by the 500 ETFs launched in 2023.
Wood has previously taken similar steps of owning her own product, as seen when Ark Funds' 3D Printing ETF (NASDAQ:PRNT) was included in the Ark Space Exploration and Innovation ETF.
Photo: Ark Invest and Shutterstock
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