ARK Invest Sells $8.7 Million Worth of Bitcoin ETF Shares Taking Profits
2025-07-16 20:34:53
Main Idea
ARK Invest sold $8.7 million worth of its own spot Bitcoin ETF and $13.3 million in Coinbase shares, potentially capitalizing on recent market momentum and reducing exposure ahead of economic data releases.
Key Points
1. ARK Invest sold 225,742 shares of its ARK 21Shares Bitcoin ETF (ARKB) and 34,207 shares of Coinbase Global Inc. on Tuesday.
2. The sales occurred after Bitcoin reached a new all-time high above $123,000 and Coinbase shares hit a record high of $398.50.
3. Analysts suggest the sales may have been motivated by a desire to capitalize on market momentum and reduce exposure ahead of the CPI release.
4. ARKB remains the fourth-largest holding in ARK's Next Generation Internet fund, with a 7.2% weighting valued at approximately $157.2 million.
5. Coinbase shares have gained over 48% in the past month, driven by increased trading volumes amid the crypto rally.
Description
ARKB had $6.2 million in outflows as Bitcoin ETFs overall added $403 million, marking nine straight days of inflows across the sector.
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