ARK Invest Acquires 4.3 Million Shares of ProShares Bitcoin Strategy ETF

Investment management firm ARK Invest The firm took on 4.3 million shares of the ProShares Bitcoin Strategy exchange-traded fund ( BITO ), which is linked to the futures market of the leading cryptocurrency worldwide.

Launched in October 2021, the ProShares ETF was the first Bitcoin exchange-traded fund approved in the United States and now constitutes 5.03% of the ARK Next Generation Internet ETF (ARKW), making it the sixth-largest asset in their portfolio. The value of ARK Invest's shares in BITO is approximately $92 million.

To finance this acquisition, ARK Invest divested shares worth about $27.6 million. This followed a significant sell-off of over $200 million by the firm in the preceding month, highlighting significant market movements. Notably, Coinbase's shares have skyrocketed by more than 400% this year. Coinbase Global These portfolio changes are strategically timed as the United States Securities and Exchange Commission (SEC) is expected to make a crucial decision next month regarding the approval of spot Bitcoin ETFs in the U.S. Coinbase shares Asset Management Firms Anticipate SEC Green Light 

Currently, around thirteen asset management firms are awaiting SEC approvals to launch a series of derivative products, including ETFs that closely track the price of Bitcoin.

In partnership with 21Shares, ARK Invest has recently refiled its application with the SEC, seeking to establish a spot Bitcoin ETF called the ARK 21Shares Bitcoin ETF. This comes in response to the regulator's feedback indicating that the original proposal fell short of necessary standards.

Earlier this week, software giant MicroStrategy announced its acquisition of Bitcoin worth nearly $615.7 million, also in light of the upcoming SEC decision.  awaiting The recent acquisition by ARK Invest underscores their tactical positioning in the rapidly changing cryptocurrency market, coinciding with the mounting expectations for SEC approval of Bitcoin ETFs.

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Alisa, a committed member of the Cryptocurrencylistings journalism team, focuses on cryptocurrency, zero-knowledge proofs, investments, and the expansive Web3 landscape. With an eye for emerging trends and technologies, she offers in-depth analyses that keep readers informed and engaged in the dynamic world of digital finance. revealed Blum Marks One Year Anniversary Celebrating ‘Best GameFi App’ and ‘Best Trading App’ Awards at Blockchain Forum 2025

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