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Cathie Wood Buys $44M Worth Of Ark’s Spot Bitcoin ETF This Week While Selling BITO, Trims This Chip Stock Amid Tech Strength

Ark Invest, founded by money manager Cathie Wood, added more units of its own spot Bitcoin (CRYPTO: BTC) exchange-traded fund on Friday, taking the week’s accumulation to $44 million. What Happened: Ark bought 316,526 units of ARK 21Shares Bitcoin ETF (CBOE: ARKB) on Friday, and the value of the purchase based on the ETF’s closing price of $41.73 was $13.21 million. At the same time, Ark sold 510,337 units of ProShares Bitcoin Strategy ETF (NYSE:BITO) valued at $10.25 million. BITO seeks to generate returns corresponding to the performance of Bitcoin by investing in Bitcoin futures contracts. …