Data: Yesterday, Ark Invest sold 110,000 shares of the ARKB spot Bitcoin ETF, worth $7.76 million

2024-07-25 18:00:51

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ChainCatcher news, according to The Block, Ark Invest sold 118,209 shares of the ARKB spot Bitcoin ETF on Wednesday, worth $7.76 million, due to a rebalancing of its fund weights. This is the first time Ark has sold ARKB shares since launching the spot Bitcoin ETF in January.

Ark's investment strategy aims to prevent any single holding from exceeding 10% of the exchange-traded fund's portfolio. This is to maintain internal diversification within its funds—meaning that if ARKB rises relative to Ark's other holdings in the fund, it is likely to continue adjusting its weight.

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