From Investing.com:

Ark Invest has divested a large portion of its holdings in the ProShares Strategy ETF (BITO) through its Ark Next Generation Internet ETF, selling 757,664 units valued at approximately $15.8 million.

The move is part of a broader rebalancing effort as Ark Invest transitions from the Grayscale Bitcoin Trust to its proprietary Ark21Shares Bitcoin ETF, signaling a strategic reallocation within the firm’s portfolio.

Despite the sale, CEO Cathie Wood remains optimistic about Bitcoin’s future, projecting a potential value of $1.5 million by 2030, reflecting her bullish outlook on digital assets’ long-term prospects.



Read more: Ark Invest offloads $15.8 million in ProShares Bitcoin ETF By Investing.com