ARK Invest Dumps Bitcoin Futures ETF For Its Own Spot Bitcoin Fund
- ARK Invest sold $45M worth of Bitcoin Futures ETF (BITO) shares since January 19
- Concurrently bought $65M worth of its own spot Bitcoin ETF (ARKB)
- ARKW fund now has 5.98% weighting in ARKB, down from 0.46% in BITO
- Divestment from BITO consistent with view of it as short-term play before spot BTC ETFs
- Cathie Wood remains bullish on crypto, with $1.5M Bitcoin price target by 2030