Before the upcoming Bitcoin (BTC) halving event, ARK Invest, led by Cathie Wood, carried out several investment moves demonstrating their optimistic viewpoint on Bitcoin’s future price trend.
Notable actions included ARK’s purchase of 139,152 units of its self-managed Bitcoin ETF, the ARK 21Shares Bitcoin ETF, worth approximately $8.96 million.
The purchase followed another substantial buy of $31.19 million worth of the ETF the day before.
Instead of being satisfied with only Bitcoin, ARK increased its investment in diversification by acquiring 41,068 units of the ProShares Ether Strategy ETF (EETH), which cost around 2.78 million dollars in total.
An additional purchase of $2.9 million in EETH shares was made by the investment giant on top of the $2.9 million worth they bought on April 18.
While not every action involved buying companies, ARK additionally unloaded some holdings. Specifically, it disposed of 28,936 shares of ProShares Bitcoin Strategy ETF (BITO), equivalent to around $803,552.
Analysts found the transactions noteworthy, given that they occurred right before the highly anticipated Bitcoin halving event.
Despite the downward trend in the cryptocurrency market following the Bitcoin halving, which brought a sense of calm after an initial surge of excitement, Wood continues to strongly believe in Bitcoin’s long-term prospects. Her company’s move to outbid the Bitcoin ETFs could be seen as a reflection of this confidence.
During a recent interview, she revealed details about Ark Investment’s approach to investing, expressing her optimistic perspective towards revolutionary technologies like artificial intelligence, electric cars, and most certainly, the crypto market.
Her company has gained attention in Europe by introducing its initial three European UCITS ETFs. This move broadens its reach on a global scale and responds to the increasing interest in its investment approaches.
Starting from April 18, ETFs became available for trading on Deutsche Borse Xetra. In the near future, they will also be listed on more European exchanges.
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2024-04-22 00:38