CoinDesk - ARK Invest swapped Grayscale holdings for BITO, adjusting their Bitcoin exposure amidst potential US spot ETF approval

https://www.coindesk.com/business/2023/12/28/cathie-woods-ark-invests-in-proshares-bitcoin-etf-after-dumping-grayscale-holdings/

ARK Invest swapped 9.2 million of its Grayscale Bitcoin holdings for ProShares BITO ETF, solidifying their Bitcoin exposure with a different fund.

They also offloaded some Coinbase stock and dipped into their own Bitcoin futures ETF, suggesting ongoing portfolio adjustments within the crypto realm.

This reshuffle coincides with potential approval for spot Bitcoin ETFs in the US, which could further boost market dynamics in the new year.

Beware of Bitcoin ETF hype!!