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Home»TRADING NEWS»ARK Invest is bullish ahead of Bitcoin halving.
TRADING NEWS

ARK Invest is bullish ahead of Bitcoin halving.

By Crypto FlexsApril 22, 20242 Mins Read
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ARK Invest is bullish ahead of Bitcoin halving.
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Ahead of the Bitcoin (BTC) halving, Cathie Wood’s ARK Invest engaged in a series of trades that reflect the hedge fund’s optimism about the cryptocurrency’s trajectory.

Among the notable moves was ARK’s addition of 139,152 in-house spot Bitcoin ETFs (ARK 21Shares Bitcoin ETF) worth $8.96 million.

This purchase follows another purchase of $31.19 million worth of ETFs the previous day.

Not content with just Bitcoin, ARK doubled down on its diversification by purchasing 41,068 shares of the ProShares Ether Strategy ETF (EETH), worth a total of $2.78 million.

This purchase was in addition to the $2.9 million worth of EETH shares the investment giant purchased on April 18.

But not all moves are about acquisitions. ARK also sold 28,936 shares of the ProShares Bitcoin Strategy ETF (BITO), worth about $803,552, reducing some of its weight in the portfolio.

Analysts deemed the deal significant, especially since it took place just hours before the much-anticipated Bitcoin halving event.

But while the halving has tempered expectations for the cryptocurrency market, Wood said his confidence in Bitcoin’s long-term potential remains unwavering. This can probably be seen by looking at his company’s review of the BTC ETF.

In a recent interview, she shared insights into ARK’s investment strategy and highlighted the positive outlook for transformative technologies such as artificial intelligence, electric vehicles, and the cryptocurrency sector.

Her firm also made headlines in Europe with the launch of its first three European UCITS ETFs, expanding its global footprint and meeting growing demand for its investment strategies.

The ETF was listed on Deutsche Borse Xetra on April 18 and is expected to be listed on additional European exchanges in the coming weeks.

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