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.

READ MORE:

Mt. Gox Didn’t Cause Bitcoin to Dip – Here is What Did

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