Ark Invest has sold another $2.8 million worth of shares of its ARKB spot Bitcoin exchange-traded fund (ETF).
Recent Ark Invest Sales
The firm sold 44,609 ARKB ETF shares of its Next Generation Internet ETF (ARKW) on Monday. This sale is the latest in a series by Ark Invest, following its $6.9 million sale of ARKB stock on Aug. 1 and its $7.8 million divestiture in July. In total, Ark Invest has sold $17.5 million worth of spot Bitcoin ETFs.
Diversification Strategy
The company’s strategy focuses on diversification, ensuring that no single holding accounts for more than 10% of any ETF’s portfolio. This approach is designed to maintain balance within ARKB's funds, which may require further rebalancing if the funds continue to appreciate in value relative to other assets in Ark's portfolio.
Results and Market Trends
Despite the sell-off, ARKB remains the second-largest holding in Ark Invest’s ARKW fund, with a portfolio weight of 9.93%, equivalent to $139.7 million, as of Sept. 24. This represents about 5% of the total $2.9 billion in assets managed by the ARK 21Shares Bitcoin ETF. Tesla remains the largest holding in the ARKW fund at 10.15%, worth $142.9 million. ARKB closed Monday’s trading session at $63.25, up 0.8% on the day and 26.5% year-to-date. Bitcoin was relatively flat, trading at $63,676, up 0.3% in the past 24 hours.
Meanwhile, US spot Ethereum ETFs saw significant outflows, with $79.3 million exiting the funds, marking the largest net daily outflow since late July.
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