As the Bitcoin (BTC) halving approaches, ARK Invest, led by Cathie Wood, has made significant moves that reflect the hedge fund’s bullish outlook on the cryptocurrency’s future.

One notable transaction was ARK’s purchase of 139,152 units of its in-house spot Bitcoin ETF β€” the ARK 21Shares Bitcoin ETF β€” valued at $8.96 million. This purchase followed another substantial buy of $31.19 million worth of the ETF the day before.

But ARK didn’t stop at Bitcoin. The hedge fund also diversified its portfolio by acquiring 41,068 shares of ProShares Ether Strategy ETF (EETH), totaling approximately $2.78 million. This purchase was in addition to another $2.9 million worth of EETH shares bought on April 18.

However, not all moves were about acquisitions. ARK also sold 28,936 shares of ProShares Bitcoin Strategy ETF (BITO), amounting to approximately $803,552.

Analysts viewed these transactions as significant, especially given their timing just hours before the highly anticipated Bitcoin halving event.

In a recent interview, Cathie Wood shared insights into ARK’s investment strategies, highlighting her positive outlook on transformative technologies like artificial intelligence, electric vehicles, and the cryptocurrency sector.

ARK Invest has also made headlines in Europe with the launch of its first three European UCITS ETFs, expanding its global presence and meeting the increasing demand for its investment strategies. These ETFs were listed on Deutsche Borse Xetra on April 18 and are set to be listed on additional European exchanges in the coming weeks.