Ark Invest’s Recent Transactions

Ark Invest sold 108,751 shares of its ARKB spot Bitcoin exchange-traded fund (ETF), valued at $6.9 million, from its Next Generation Internet ETF (ARKW) on Thursday.

Despite generating $50.6 million in net inflows, ARKB experienced $22.4 million in net outflows on August 1.

The firm, led by Cathie Wood, also increased its sales of Coinbase stock, offloading 31,517 shares (valued at $6.7 million) from ARKW and 37,552 shares (worth $8 million) from its Fintech Innovation ETF (ARKF). This followed a $2.7 million sale of COIN shares on Wednesday, as noted in the latest trade filing.

Ark Invest’s strategy allows no individual holding to exceed 10% of an ETF’s portfolio to ensure diversification. This approach likely means continued rebalancing if ARKB and COIN appreciate relative to Ark’s other holdings.

As of August 2, ARKB is the largest holding within ARKW at 10.6%, valued at $142.4 million. COIN ranks as the fourth-largest holding at 6.7%, worth $90.4 million, while Coinbase shares represent Ark’s largest holding in ARKF at 9.7%, valued at $77.4 million.

ARKB traded at $63.20 at market close on Thursday, a 3% decline for the day, but up 26.4% year-to-date. Bitcoin has been stable, priced at $64,439.

Coinbase shares closed at $212.64, down over 5%, yet had gained 22.9% year-to-date despite being 38% below the all-time high of $342.98 reached in November 2021. Coinbase reported $1.45 billion in Q2 revenue, representing an 11% decline from Q1, influenced by reduced consumer transactions amid market corrections. Coinbase’s current valuation is $41.7 billion.

Additionally, Ark sold 282,435 Robinhood shares from its Innovation ETF (ARKK) on Thursday, totaling $5.7 million.