ARK Sells Last of Its ProShares Bitcoin Futures ETF Shares
The investment firm sold 237,983 BITO shares worth $6.7 million at Thursday’s closing price of $28.22 from its Next Generation Internet ETF (ARKW).
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The investment firm sold 237,983 BITO shares worth $6.7 million at Thursday’s closing price of $28.22 from its Next Generation Internet ETF (ARKW).
ARKW now holds $91.4 million of ARKB, constituting a 5.98% weighting of the fund’s total value.
The investment fund bought $9.2 million worth of BITO shares while selling $27.6 million worth of COIN.
Interest on the ETF’s cash balances helps offset the cost of rolling from one set of futures to the next, ensuring a low tracking error, the firm said.