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important point:
- Cathie Wood decided to spend approximately $16 million to buy shares of her Bitcoin ETF in cash.
- In parallel, he sold shares of the ProShares Bitcoin Strategy ETF (BITO), the first ETF linked to the Bitcoin futures market.
- Due to these activities, the market is interpreting Wood as wanting to invest directly in assets tied to the leading cryptocurrency.
kathy wood bought about $16 million worth of shares of its own Bitcoin exchange-traded fund (ETF) on Tuesday.
Ark Invest director acquires more than 365,000 shares ARK 21Shares Bitcoin ETF (ARKB), taking advantage of the fact that the titles fell 11% compared to the day before.
On January 11, its first day on the stock market, ARKB shares began trading at $49, while on Tuesday they closed at $43.51.
A Unique Movement by Cathie Wood
In parallel with Tuesday’s big buy, Wood sold almost the same amount of money ($15.8 million) ProShares Bitcoin Strategy ETF (BITO),
Why did he do this? That’s because exchange-traded funds are linked to Bitcoin futures and spot markets, like the new ETFs approved by the SEC.
This also explains why Ark Invest sold its entire stake Grayscale Bitcoin Trust (GBTC) in December, before GBTC converted into a spot Bitcoin ETF.
The business woman’s actions are clear, she wants to explore More exposure to Bitcoin directly,
(TagstoTranslate)Ark Invest(T)Bitcoin(T)BTC(T)Cathie Wood
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