Cathie Wood’s Ark Invest Sells Coinbase and GBTC Shares to Buy ProShares Bitcoin ETF (BITO)
Ark Invest purchased $92 million worth of ProShares Bitcoin Strategy ETF (BITO) and 4,320,928 units of the US Bitcoin futures-linked ETF.
Ark Invest purchased $92 million worth of ProShares Bitcoin Strategy ETF (BITO) and 4,320,928 units of the US Bitcoin futures-linked ETF.
The ProShares Short Bitcoin Strategy ETF (BITI) will allow users to profit from Bitcoin’s declining prices. It will also provide users with a hedge to their crypto exposure via an ETF.
The ProShares ETF fund also broke another record for the highest-ever first day of organic volume which hit $1 billion on October 19, the day it went live.
Besides Bitcoin and Ethereum, the remaining eight digital currencies that make up the 10 ten coins on Coingecko contribute more than $30 billion each to the combined crypto market cap.
The price of Bitcoin has plunged more than 9% in the last 24 hours following the announcement from the SEC that once again delays its decision on the rule change for a VanEck’s Bitcoin exchange-traded fund. The new deadline is February 27, 2019.
The SEC has set a new deadline till the October end for public comments after which the securities agency will start reviewing the proposed rule changes.
The U.S. SEC is set to approve or deny the two ProShares Bitcoin ETFs filed in 2017 on 23 August. If approved, the ETF’s performance would be tracked on popular exchanges like the Cboe and CME.
The crypto market sentiment has been severely driven down after the rejection of CBOE Bitcoin ETF, the ripple effect of which is spread all over.
The race for Bitcoin Exchange Traded Funds (ETFs) heats up as CBOE has filed for 6 ETFs with the SEC.
ProShares, a leading provider of exchange traded funds (ETFs), has recently submitted two new Bitcoin ETFs to the SEC for approval.