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Ark Invest Sells $7.76 Million in Bitcoin ETF Shares

25.07.2024 15:33 1 min. read Alexander Stefanov
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Ark Invest Sells $7.76 Million in Bitcoin ETF Shares

Ark Invest recently sold 118,209 shares of its ARKB spot Bitcoin ETF, totaling $7.76 million, from its Next Generation Internet ETF (ARKW).

This marks the first sale of ARKB shares since the ETF’s inception in January.

The investment firm, led by Cathie Wood, follows a strategy to ensure no single holding exceeds 10% of an ETF’s portfolio to maintain diversification.

Consequently, ARKB’s significant weighting in the ARKW ETF, at 10.98% as of July 24, suggests potential rebalancing.

As of the latest update, ARKB is the largest holding in ARKW, ahead of Tesla, Roku, and Coinbase.

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ARKB’s value is currently at $162.5 million, reflecting a 31% gain since its launch, while ARKW’s overall performance has increased by 33% over the past year.

Alexander Stefanov
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With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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