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.
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.
Sky, previously known as MakerDAO, is reconsidering its stance on using Wrapped Bitcoin (WBTC) as collateral after a crucial meeting with BitGo CEO Mike Belshe.
Binance has achieved a significant milestone, with CEO Richard Teng announcing that the exchange has surpassed an astonishing trading volume of $100 trillion.
The U.S. Department of Justice (DOJ) has launched an antitrust lawsuit against Visa, accusing the payments giant of maintaining a monopoly in the debit payments sector.
During yesterday’s hearing, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler faced strong criticism from lawmakers, particularly GOP Majority Whip Tom Emmer, regarding the SEC’s handling of Digital Licensing Inc., also known as DebtBox.