Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Ark Invest Sells $7.76 Million in Bitcoin ETF Shares

Ark Invest Sells $7.76 Million in Bitcoin ETF Shares

Cryptodnes2024/07/25 13:34
By:Cryptodnes

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.

SHARE: SHARES
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Metrics Ventures: The market has provided the answer; quietly accompanying the industry's growth is the best strategy

Ride the wave, trade the trend, this heart is bright, what else is there to say.

Chaincatcher2024/11/09 23:33

BlackRock’s Bitcoin ETF flips gold fund

Cointelegraph2024/11/09 17:55

SEC mulls approving Ethereum ETF options

Cointelegraph2024/11/09 17:55