In a significant move on Monday, Cathie Wood-led Ark Invest made a headline-grabbing trade by selling a substantial amount of ProShares Bitcoin Strategy ETF (NYSE:BITO) units and concurrently increasing its stake in the ARK 21Shares Bitcoin ETF (NYSE:
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.
Billionaire Elon Musk expressed surprise after Ark Invest CEO Cathie Wood pointed out that Bitcoin (CRYPTO: BTC) is "backed by the largest computer network" in the world.
Cathie Wood is standing firm in her support for Bitcoin (CRYPTO: BTC) despite a 5% weekly decline, tweeting that the apex crypto is backed by the world's largest computer network.
In an intriguing shift within the spot Bitcoin (CRYPTO: BTC) ETF market, the group of ETFs experienced a net outflow of $41.1 million on day three, signaling a cautious stance from investors in certain funds while others gained traction.