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