Cathy Wood-led investment company Ark Invest has seen major sales in both Coinbase (Coin) stakes and its own Spot Bitcoin ETF, ARKB.
Ark Invest sells $1 million with Coinbase Stock and its own Bitcoin ETF
The company raised approximately $13.3 million by selling 225,742 shares and selling 34,207 Coinbase shares. The sale came shortly after both Bitcoin and Coinbase reached an all-time high.
Ark Invest maintains a strategy that does not exceed 10% of the capital’s asset weight. This policy aims to maintain portfolio diversity and involves regular rebalancing in the event of a significant increase or decrease in asset value.
According to the company’s latest data, Coinbase shares account for 7.9% of the ARKW fund, worth around $172.8 million. The fund’s largest holding, Robinhood, is 8%, worth $175.5 million.
Coinbase shares rose 1.8% on Monday to a record $394.01, with the company’s market capitalization for the first time exceeding $100 billion. However, on Tuesday, stocks fell 1.5% to $388.02. Over the past month, the stock has won over 50%, backed by Bitcoin’s record-breaking rally and the prominent IPO of Stablecoin partner Circle.
Ark is also sold out from Bitcoin ETFs
Ark Invest also sold a $8.7 million Bitcoin ETF, ARKB, from the same fund on Tuesday. The sale coincided with Bitcoin’s recent breakout on Monday and its $123,000, before falling below $116,000 on Tuesday.
ARKB is the fourth largest position, accounting for 7.2% of the ARKW fund, worth around $157.2 million.
A strong inflow continues to occur in Bitcoin ETFs
On Tuesday, ARKB saw a net inflow of $6.2 million, while Spot Bitcoin ETF saw a net inflow of $433 million. BlackRock’s IBIT ETF led the inflow, donating $416.3 million.
The Spot Bitcoin ETF has seen inflows over the past nine days, raising a total of $4.4 billion. Since its launch in January 2024, ETFs have total net inflows of over $53.3 billion. ARKB accounts for this figure of $2.9 billion and currently manages $5 billion in assets.
BRN Chief Analyst Valentin Fournier issued the following statement in his assessment:
“ETF influx is strong, altcoins are gaining momentum and macro optimism is high. Bitcoin has more room for the top, but in the short term we’ve left the stage and left it to altcoins.”
*This is not investment advice.
