Cathie Wood's Ark buys more of its Spot Bitcoin ETF ahead of halving, suspends Tesla purchases – ARK Innovation ETF (ARCA:ARKK)

on friday, Cathie Wood's Ark Investment I did a pair trade with a virtual currency exchange traded fund. This deal is significant because it preceded the much-anticipated deal. Bitcoin (CRYPTO: BTC) halving has begun.

Cryptocurrency trading: arcs ARK Next Generation Internet ETF (NYSE:ARKW) Purchased 41,068 units. ProShares Ether Strategy ETF (NYSE:EETH) valued at $2.81 million. This is in addition to Thursday's purchase worth $2.9 million. Meanwhile, the fund sold 28,936 units. ProShares Bitcoin Strategy ETF (NYSE:BITO) valued at $813,102.

Ark has strengthened its holdings in its own Spot Bitcoin ETF. ARK 21 Shares Bitcoin ETF (CBOE:ARKB), added 139,152 units worth $8.96 million. The company purchased $31.19 million worth of ETFs on Thursday.

Bitcoin halvings occur approximately every four years to reduce the supply of the apex cryptocurrency in circulation. The long-awaited event happened late Friday. After the event, Bitcoin, which had soared due to expectations, stabilized.

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Tesla purchases suspended: Ark also chose not to splurge on the electric car giant. Tesla's (NASDAQ:TSLA) Stock Price on Friday. The company increased its holdings in Ark by $26.89 million last week, buying the stock in three sessions as it retreated to its lowest since January 2023.

of Elon MuskLosses could widen further next week as the company cut prices on all EV trims in China and all but the refreshed Model 3 EV trim in the U.S. They don't seem to appreciate their quarterly earnings report, which they plan to file on Tuesday, as they expect two more failures this quarter.

Tesla is Ark's flagship ETF. Ark Innovation ETF (NYSE:ARKK).

ARKK closed Friday's trading down 2.12% at $42, according to data from Benzinga Pro.

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