Ark Invest, Led by Cathie Wood, Bitcoin $63,729 As part of the adjustments it made to its strategy, it sold 44,609 ARKB spot Bitcoin ETF shares for $2.8 million on September 23, 2024. This move is the second major fund sale the company has made this quarter and is a continuation of similar transactions made at the beginning of the year.
Ark Invest Sales
Ark’s sales are part of an ongoing effort to balance its portfolio. $6.9 million worth of ARKB stock was sold on August 1, 2024, and $7.8 million in July. A total of $17.5 million worth of ARKB stock has been sold in the past few months. The firm aims to maintain a diversified and stable investment strategy, aiming for no single asset to exceed 10% of its ETF portfolio.
ARKB is still in the cart
Despite the sell-off, the ARKB ETF remains a core asset in Ark’s Next Generation Internet ETF (ARKW). As of September 24, 2024, the Bitcoin ETF has a 9.93 percent weighting in the ARKW portfolio, equivalent to $139.7 million. Tesla shares are second in the portfolio, holding a 10.15 percent weighting.
Investor Confidence in Bitcoin ETFs
The Bitcoin ETF has been performing consistently in 2024, closing at $63.25 on September 23 and up 26.5% since the beginning of the year. Bitcoin itself is trading at $63,676, up 0.3% in the last 24 hours.
The reduction in Ark’s Bitcoin ETF position comes as we see continued positive cash flows into US spot Bitcoin ETFs. On Monday, these ETFs saw net inflows totaling $4.5 million, marking the third day of net inflows. Over $250 million was invested in US Bitcoin ETFs during this period.
Ethereum ETFs in Discord
US spot Ethereum despite steady cash inflows in Bitcoin ETFs 
$2,656 ETFs continue to struggle. On the same day, Ethereum ETFs saw one of their biggest outflows, selling $79.3 million. This reflects the difference in investor sentiment between the two largest cryptocurrencies.
Ark Invest’s short-term sales do not indicate a decline in confidence in Bitcoin, but rather reflect a strategy to balance the portfolio. The firm’s diversification approach aims to take advantage of other emerging sectors as interest in Bitcoin increases. Under Cathie Wood, Ark prioritizes managing risk while investing in high-growth assets. Future sales will depend on the performance of other assets in the fund’s portfolio.
Bitcoin ETFs remain a key element of Ark’s vision for the future of finance, and these strategies are important for investors in terms of portfolio diversification and risk management.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
