Cathie Wood's Ark Invest Buys ARKB Spot Bitcoin ETF Shares, Offloads ProShares Holdings

Ark Invest, the asset management firm led by Cathie Wood, has sold holdings in ProShares Bitcoin Strategy ETF to purchase units in its newly launched Ark 21Shares spot Bitcoin ETF. This move has given Ark Invest an advantage over competitors due to its active portfolio management strategy and global availability to investors. Ark Invest will continue to buy ARKB spot Bitcoin ETF units until the target buying value is reached. Additionally, Cathie Wood commented on Bitcoin mining generating more annual revenue than some of the largest publicly traded companies.