After her optimistic opinion on Bitcoin (CRYPTO: BTC) prices, Cathie Wood announced that $ARK 21Shares Bitcoin ETF (ARKB.US)$ represents 1% of the $ARK Next Generation Internet ETF (ARKW.US)$ fund.

What Happened: While competition heats up in the spot Bitcoin ETF space, Wood's Ark Investment Management is accumulating its just-approved and launched Spot Bitcoin ETF. The fund purchased 365,427 shares of ARKB representing 1% of the ARKW fund, as reported by Bloomberg.

The step comes amid the ARK Next Generation Internet ETF offloading $16 million worth of its position in the futures-backed $ProShares Bitcoin Strategy ETF (BITO.US)$ on Tuesday.

A quick look at Ark Invest's trade activity from Jan.16 is here.

Bloomberg Intelligence ETF analyst James Seyffart said, "Cathie Wood buying ARKB with her other ETFs is a little bit of a cheat code in raising assets and volume, but she's not the only issuer that can do this and this isn't the only cheat code available."

Why It Matters: Last week, Wood revealed that her personal portfolio has a significant portion invested in Bitcoin. Excluding Ark and real estate, BTC accounts for at least 25% of her net worth.

Bloomberg Senior ETF Analyst Eric Balchunas stated that the total volume for spot Bitcoin ETFs in three days stands at $9.68 billion, compared to $450 million of volume reported by the 500 ETFs launched in 2023.

With regards to the total fund inflows for two days, $iShares Bitcoin Trust (IBIT.US)$ reported the highest with $497.7 million while ARKB stands in the fourth position with $105.16 million. The $Grayscale Bitcoin Trust (GBTC.US)$ has witnessed an outflow of $579.14 million.  

Wood has previously taken similar steps of owning her own product, as seen when $The 3D Printing ETF (PRNT.US)$ was included in the Ark Space Exploration and Innovation ETF.