Ark Invest Offloads $2.8 Million in Bitcoin ETF Shares

On Monday, Ark Invest sold 44,609 shares of its spot Bitcoin exchange traded fund ARKB worth $2.8 million from its ETF Next Generation Internet (ARKW).

In total, Ark Invest has now divested $17.5 million from the Bitcoin ETF, including $7.8 million in ARKB shares sold in July.

The company’s investment strategy mandates that no single stock should exceed 10% of the ETF’s portfolio, a practice aimed at maintaining diversification within its funds.

That suggests Ark will likely continue to rebalance its asset allocation if ARKB appreciates relative to its other investments.

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ARKB remains the second-largest holding in its ARKW fund, accounting for 9.93% of the fund’s total value, valued at $139.7 million as of Sept. 24, according to company disclosures. That represents nearly 5% of the spot Bitcoin ETF’s total assets under management, which amount to $2.9 billion.

Alexander Stefanov