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Cathie Wood’s Ark Buys ARKB Bitcoin ETF Worth $51M This Week; Buys Tesla Shares

Cathie Wood’s Ark Invest purchased 127,435 Ark 21Shares Bitcoin ETF (ARKB) units worth $5.4 million and Tesla shares worth $33 million.
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Cathie Wood’s Ark Buys ARKB Bitcoin ETF Worth $51M This Week; Buys Tesla Shares

Cathie Wood’s asset management firm Ark Invest added additional units of ARK 21Shares Bitcoin ETF (ARKB), increasing its total ARKB purchase this week to $51 million. ARKW has been consistently purging holdings in ProShares Bitcoin Strategy ETF (BITO) since the approval and listing of spot Bitcoin ETFs.

Meanwhile, Ark Invest funds are on an accumulation spree for Elon Musk’s Tesla (TSLA) shares, along with other key shares.

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Cathie Wood’s Ark Buys More ARKB Bitcoin ETF Units

On January 26, Cathie Wood’s Ark Invest purchased 127,435 Ark 21Shares Bitcoin ETF (ARKB) units worth $5.4 million, as per trades seen by CoinGape.

ARK Next Generation Internet ETF(ARKW) offloaded 78,345 shares of ProShares Bitcoin Strategy ETF (BITO) valued at approximately $1.59 million and other shares such as Twilio, UiPath and DraftKings to buy ARKB spot Bitcoin ETF units.

With the latest purchase, ARKW has bought 1.27 million ARKB units worth $51 million this week. CoinGape earlier reported that ARKW purchased 1.04 million ARKB units worth $43 million last week. Thus, a total of ARKB is worth almost $95 million.

As per Ark Invest data, ARKB has Bitcoin with a market value of $529.18 million until Jan 26.

Shares including BITO and ARKB ETFs prices jumped after the PCE data revealed that inflation cooled to 2.9%. ProShares Bitcoin Strategy ETF (BITO) price closed 5.62% higher at $20.30 on Friday. Whereas, Ark 21Shares Bitcoin ETF (ARKB) price closed 5.39% higher at $42.02.

Also Read: XRP Ledger Hits New Milestone With 5 Million Wallets, XRP Price Rally Imminent?

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ARK Invest Buying Tesla (TSLA)

Cathie Wood’s Ark Invest funds are on a buying spree for Tesla shares. After buying TSLA stocks worth $32 million on Thursday, ARK funds purchased another hefty $33 million worth of shares in total.

ARK Innovation ETF (ARKK) bought 151,984 Tesla shares and ARK Next Generation Internet ETF (ARKW) purchased 30,557 TSLA shares.

TSLA price closed at $183.25 on Friday, up 0.34%. Elon Musk’s Tesla stock price dropped 13.67% this week.

Also Read: Crypto Market Recovery — Here’s Why Bitcoin, ETH, SOL, XRP Are Up Today

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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