Cryptocurrency Q&A
How much did Ark sell in a bitcoin ETF?
How much did Ark sell in a bitcoin ETF?
Ilaria
Tue Jul 16 2024
|
5 answers
1252
As a keen observer of the cryptocurrency and finance landscape, I'm curious to delve deeper into the recent developments surrounding Ark and its participation in a Bitcoin Exchange-Traded Fund (ETF). Could you please elaborate on the specifics of Ark's involvement in such a vehicle? Specifically, I'm interested in knowing: How much Ark did the ETF actually sell? Was this a significant portion of Ark's overall holdings? And how does this transaction reflect on Ark's strategic positioning within the crypto market? Your insights into these queries would greatly enhance my understanding of the current market dynamics.
5 answers
DongdaemunTrendsetterStyleIcon
Thu Jul 18 2024
BITO is noteworthy as it is the first ETF in the United States to be linked to the bitcoin futures market.
Was this helpful?
389
77
LightningStrike
Thu Jul 18 2024
ARK recently sold a significant amount of shares in the ProShares Bitcoin Strategy ETF (BITO), totalling $15.8 million.
Was this helpful?
354
98
BonsaiVitality
Wed Jul 17 2024
Prior to the sale of BITO shares, ARK had holdings in the Grayscale Bitcoin Trust (GBTC).
Was this helpful?
130
28
Carlo
Wed Jul 17 2024
However, in December, ARK decided to divest its investments in GBTC, ahead of the trust's planned conversion into a bitcoin ETF.
Was this helpful?
161
89
Martino
Wed Jul 17 2024
BTCC, a cryptocurrency exchange based in the UK, offers a diverse range of services to its clients.
Was this helpful?
218
87
