Ark Invest, led by Cathie Wood, has sold 44,609 shares of its ARKB spot Bitcoin ETF, amounting to $2.8 million.
Ark Invest, led by Cathie Wood, has sold 44,609 shares of its ARKB spot Bitcoin ETF, amounting to $2.8 million.
This transaction occurred on September 24, as part of the firm’s strategy to rebalance its fund weightings. To date, Ark Invest has sold a total of $17.5 million worth of ARKB shares from its Next Generation Internet ETF (ARKW), though it still retains a significant investment, holding $139.7 million in the Bitcoin ETF.
The ARKB ETF accounted for approximately 9.93% of the ARKW fund's total assets as of September 24, making it the second-largest holding within the fund. Tesla remains the largest holding in ARKW, with a weight of 10.15%, valued at $142.9 million.
The ARKB ETF traded at $63.25 at market close on September 24, reflecting a 0.8% increase for the day and a notable 26.5% rise year-to-date.
This recent sale follows a pattern of divestiture by Ark Invest, which earlier offloaded $6.9 million in ARKB shares on August 1 and $7.8 million in July. The investment firm maintains a policy of limiting any single holding to no more than 10% of its ETF portfolio, a strategy aimed at ensuring diversification.
In the broader market context, U.S. spot Bitcoin ETFs experienced net inflows of $4.5 million on September 24, marking a positive trend that has accumulated over three days, totaling more than $250 million.
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