Last month, "Wood Sister" cleared out the Grayscale Bitcoin Trust that was once touted as the top choice.
A well-known fund manager, Cathie Wood, has made significant adjustments to the Bitcoin-related assets held by one of her ETFs. She sold the Grayscale Bitcoin Trust and purchased the ProShares Bitcoin Strategy ETF. Wood had praised the Grayscale Bitcoin Trust as her top choice just last month. In addition, the ARK ETF also bought the ARK 21Shares Active Bitcoin Futures Strategy ETF and sold shares of the cryptocurrency exchange Coinbase. The ARK Next Generation Internet ETF has risen by 103% year-to-date.
Zhitong App has learned that Cathie Wood, a well-known fund manager, has made significant adjustments to the Bitcoin-related assets held by one of her ETFs, as Bitcoin has had a sensational year. Data shows that the ARK Next Generation Internet ETF sold its remaining 2.25 million shares of the Grayscale Bitcoin Trust on Wednesday. According to Ark's daily data, the company purchased 4.32 million shares of the ProShares Bitcoin Strategy ETF on the same day, becoming the second-largest holder of the fund.
Wood has been reducing her holdings of the Grayscale Bitcoin Trust in recent months, despite Bitcoin reaching its highest level since April 2022. The Grayscale Bitcoin Trust was once the largest holding of the ARK Next Generation Internet ETF. This cryptocurrency has more than doubled in value in 2023, with most of the gains expected to occur before the end of the year, as the market speculates that the U.S. Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF early next month.
Wood praised the Grayscale Bitcoin Trust as her top choice at last month's Sohn Australia conference.
Also on Wednesday, according to the fund's report, the ARK ETF purchased 20,000 shares of the ARK 21Shares Active Bitcoin Futures Strategy ETF and sold 148,885 shares of the cryptocurrency exchange Coinbase.
The ARK Next Generation Internet ETF has risen 103% year-to-date, compared to a 55% increase in the Nasdaq 100 Index. However, the fund's performance has been volatile, with declines of 19% and 67% in 2021 and 2022, respectively.