According to CoinDesk: ARK Invest, led by Cathie Wood, is seemingly focusing on its freshly listed spot Bitcoin ETF, evidenced by exiting positions in ProShares Bitcoin Strategy ETF (BITO) and pouring into its own fund's offering.
Recently issued trading disclosures highlight that ARK Next Generation Internet ETF (ARKW) has sold 758,915 shares of BITO, approximated at $15 million. Concurrently, ARKW purchased 365,695 shares of ARKB, its own Bitcoin ETF, with a similar value.
This trading pattern follows a trend, as ARK Invest made an analogous move the previous Wednesday, shifting the same amounts from BITO to ARKB.