Bloomberg Analyst: ARK has sold all remaining GBTC positions and used half of the funds to purchase BITO

Bloomberg ETF analyst Eric Balchunas said that today, ARK sold all its remaining GBTC positions (which was the largest holding of ARKW a month ago), and used about half of the funds (around $100 million) to purchase BITO. This may be as a transitional tool to maintain beta for Bitcoin, just like how ARK is now the second-largest holder of BITO.