Cathie Wood’s Ark Invest Increases ARKB Bitcoin ETF Holdings
Cathie Wood’s asset management firm, Ark Invest, has added more units of the ARK 21Shares Bitcoin ETF (ARKB), bringing its total purchase this week to $51 million. This move comes as Ark Invest has been reducing its holdings in the ProShares Bitcoin Strategy ETF (BITO) since the approval and listing of spot Bitcoin ETFs.
Ark Invest Continues to Accumulate Tesla Shares
In addition to its Bitcoin ETF purchases, Ark Invest is also on an accumulation spree for Elon Musk’s Tesla (TSLA) shares, along with other key shares.
Details of ARKB Bitcoin ETF Purchase
On January 26, Ark Invest bought 127,435 units of the ARK 21Shares Bitcoin ETF (ARKB) worth $5.4 million. This purchase was made by selling shares of the ProShares Bitcoin Strategy ETF (BITO) and other shares to buy ARKB units.
With this latest purchase, Ark Invest has bought a total of 1.27 million ARKB units worth $51 million this week. Last week, they purchased 1.04 million ARKB units worth $43 million, bringing the total value of ARKB holdings to nearly $95 million.
According to Ark Invest data, as of January 26, ARKB holds Bitcoin with a market value of $529.18 million.
The prices of BITO and ARKB ETFs increased after inflation cooled to 2.9%, with BITO closing 5.62% higher at $20.30 and ARKB closing 5.39% higher at $42.02.
Ark Invest’s Purchase of Tesla Shares
Cathie Wood’s Ark Invest funds are actively buying Tesla shares. After purchasing $32 million worth of TSLA stocks on Thursday, ARK funds bought an additional $33 million worth of shares.
ARK Innovation ETF (ARKK) purchased 151,984 Tesla shares, while ARK Next Generation Internet ETF (ARKW) bought 30,557 TSLA shares.
Tesla’s stock price closed at $183.25 on Friday, experiencing a 0.34% increase. However, it dropped 13.67% throughout the week.
Hot Take: Cathie Wood’s Ark Invest Continues to Show Confidence in Bitcoin and Tesla
Cathie Wood’s Ark Invest continues to demonstrate its belief in the potential of Bitcoin and Tesla by increasing its holdings in the ARK 21Shares Bitcoin ETF (ARKB) and purchasing more Tesla shares. This reflects Ark Invest’s bullish outlook on both assets despite recent market volatility. With its significant investments in Bitcoin and Tesla, Ark Invest is positioning itself to benefit from the future growth of these innovative technologies. As one of the most influential figures in the world of finance, Cathie Wood’s investment decisions carry weight and can influence market sentiment towards these assets.
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