ARK Invest purchased 4.3 million ProShares Bitcoin Strategy ETF shares (BITO) on Monday after selling its remaining Grayscale Bitcoin Trust holdings (GBTC).

ProShares’ stake is worth $9.2m based on the closing price. Cathie Wood’s investment vehicle sold Coinbase (COIN), valued at $27.6 millions, and purchased 20,000 shares in the Ark 21Shares active Bitcoin Future Strategy ETF.

ProShares, the exchange-traded funds that began trading in October 2020 as the first U.S. bitcoin linked ETFs, accounts for 5.03% ( its sixth largest holding ) of the ARK Next Generation Internet Fund (ARKW). The fund has no GBTC holdings, as the last sale was reported on December 20. Coinbase, with a holding of just over 12%, remains the largest investment in the fund, even after Wednesday’s sales of 148.885 shares.

The Securities and Exchange Commission is expected to make a decision next month on whether or not to allow bitcoin ETFs in the U.S. to trade. The Securities and Exchange Commission has received ETF applications from Grayscale and Ark 21Shares.

Sandali Handagama is the editor.