Ark Invest Sells Shares of ARKB ETF

Ark Invest sold 118,209 shares of its ARKB spot Bitcoin exchange-traded fund (ETF), valued at $7.76 million, from its Next Generation Internet ETF (ARKW) on Wednesday.

This marked the first sale by the Cathie Wood-led investment firm since the ARKB ETF’s launch in January. Ark’s strategy ensures that no single holding exceeds 10% of its ETF portfolio, promoting diversification. This likely means continued rebalancing if ARKB’s valuation increases compared to the firm’s other investments.

As per the latest disclosures, ARKB stands as the largest holding in the ARKW ETF, with a 10.98% allocation as of July 24, surpassing positions in Tesla (9.5%), Roku (8.48%), and Coinbase (8.23%).

ARKW’s total ARKB holdings are worth $162.5 million, with the spot Bitcoin ETF gaining about 31% since its inception. Overall, ARKW has experienced a 33% increase over the past year.

As of Wednesday’s market close, ARKB traded at $65.62, remaining unchanged for the day with a slight 0.17% gain. Bitcoin, however, fell nearly 1%, currently priced at $64,491.

Last week, Ark also liquidated a significant amount of Coinbase shares from ARKW, totaling $4.3 million; this was the firm’s first sale since May. In tandem, Ark acquired $3.5 million worth of CrowdStrike shares amid a global Microsoft IT outage linked to the cybersecurity company.