Bloomberg Analyst: ARK Invest liquidates GBTC position and buys BITO

On December 28th, Bloomberg ETF analyst Eric Balchunas posted on social media that ARK Invest has sold all of its remaining GBTC positions (which was ARKW's largest holding a month ago) and used half of the funds to purchase shares of ProShares Bitcoin Futures ETF (BITO), possibly as a liquidity transition tool to maintain its beta with Bitcoin at a certain level when transitioning to ARKW or ARKB.