Ark Invest Sells Shares of Bitcoin ETF

Ark Invest sold 44,609 shares of its ARKB spot Bitcoin exchange-traded fund, valued at $2.8 million, from its Next Generation Internet ETF (ARKW) on Monday.

This sale follows a previous offload on August 1, where the firm sold $6.9 million worth of ARKB. In total, Ark Invest has now sold $17.5 million worth of the Bitcoin ETF, including $7.8 million in July. The firm maintains a strategy where no single holding exceeds 10% of an ETF’s portfolio to ensure diversification. As a result, the company is likely to continue rebalancing its asset weightings if ARKB appreciates relative to its other holdings.

According to disclosures, ARKB remains the second-largest holding within the ARKW fund, comprising 9.93% of it, valued at $139.7 million as of September 24. This represents almost 5% of the $2.9 billion in total assets under management of the spot Bitcoin ETF, based on information from The Block’s ARK 21Shares Bitcoin ETF page. Tesla stock is the largest holding in ARKW at 10.15%, worth $142.9 million.

At market close on Monday, ARKB was trading at $63.25, an increase of 0.8% for the day and 26.5% year-to-date, according to TradingView. Bitcoin remained stable over the last 24 hours at $63,676, showing a slight increase of 0.3%, as reported by The Block’s Bitcoin Price Page.

U.S. spot Bitcoin ETFs experienced net inflows of $4.5 million on Monday, continuing a positive trend for three consecutive days, totaling over $250 million. In contrast, U.S. spot Ethereum ETFs saw their largest net daily outflows since late July, with $79.3 million exiting the funds the previous day.