ARK Invest Dumps Grayscale Bitcoin Trust for Rival ETFs
• ARK Invest bought $9.2 million of ProShares Bitcoin ETF (BITO) shares after selling Grayscale Bitcoin Trust (GBTC) • The ProShares purchase accounts for 5% of ARK's Next Generation Internet ETF (ARKW) • ARK sold $27.6 million worth of Coinbase (COIN) shares but it remains the fund's largest holding • ARK bought shares in 21Shares Bitcoin ETF ahead of potential SEC spot bitcoin ETF approvals • Grayscale and 21Shares have spot bitcoin ETF applications filed with the SEC