Bitcoin ETF

Million

Ark Invest, led by Cathie Wood, sold 108,751 shares of its ARKB spot Bitcoin ETF, Next Generation Internet ETF (ARKW), on Thursday, valued at $6.9 million. 
<h2 id="ark-invest-sells-6-9-million-spot-bitcoin-etf-and-coinbase-increases-share-sales">Ark Invest Sells $6.9 Million Spot Bitcoin ETF and Coinbase Increases Share Sales</h2> 
Although spot Bitcoin ETFs generated net inflows of $50.6 million on August 1, ARKB issued by Ark and 21Shares saw net outflows totaling $22.4 million. 
In addition to reducing its Bitcoin ETF holdings, Ark Invest also accelerated its Coinbase stock sales. 
The firm issued 31,517 shares of ARKW valued at $6.7 million and 37,552 shares of the Fintech Innovation ETF (ARKF) valued at $8 million, following a $2.7 million sale of COIN shares on Wednesday, according to its latest transaction filing. 
Ark's investment strategy generally ensures diversification of its funds by preventing a single holding from exceeding 10% of the ETF portfolio. This policy means the firm can continue to rebalance asset weights as ARKB and COIN increase in value relative to other assets. 
Related News: <a href="https://en.bitcoinsistemi.com/negative-outlook-on-us-spot-bitcoin-and-ethereum-exchange-traded-funds-etfs-turned-positive-here-are-the-details/" target="_blank" rel="dofollow">Negative Outlook on US Spot Bitcoin and Ethereum Exchange Traded Funds (ETFs) Turned Positive! Here are the Details</a> 
As of August 2, ARKB is the largest asset within ARKW, with a value of $142.4 million, which constitutes 10.6% of the fund portfolio. 
Coinbase stock, which represents the fourth largest holding in ARKW with 6.7% ($90.4 million), is Ark's largest holding with 9.7% ($77.4 million) in ARKF. 
On Thursday, ARKB traded at $63.20, down 3% on the day but up 26.4% year-to-date. 
Coinbase shares closed at $212.64, down more than 5% on the day. The stock has gained 22.9% year to date but is still 38% below its all-time high of $342.98 reached in November 2021. 
Coinbase recently reported Q2 revenue of $1.45 billion, an 11% decline compared to Q1, with the decline partially attributed to a decline in consumer transactions amid market corrections. The company is currently valued at $41.7 billion. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/ark-invest-led-by-cathie-wood-accelerated-bitcoin-etf-and-coinbase-share-sales/">Ark Invest, Led by Cathie Wood, Accelerated Bitcoin ETF and Coinbase Share Sales!</a>

Ark Invest, Led by Cathie Wood, Accelerated Bitcoin ETF and Coinbase Share Sales!

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