Ark Invest Sheds Bitcoin ETF Shares for the First Time

IconCryptoNewsTerminal Staff25 Jul, 2024

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Ark Invest Sheds Bitcoin ETF Shares for the First Time

Ark Invest, led by Cathie Wood, recently made its first sale of shares in its Bitcoin spot exchange-traded fund (ETF), ARKB. According to The Block, Ark Invest sold 110,000 shares, worth approximately $7.8 million. Prior to this, Ark Invest had been acquiring ARKB shares. This recent sale marks a shift in the company's stance on Bitcoin ETFs. Despite this sale, Ark Invest remains a significant holder of ARKB shares, with its ARKW fund continuing to hold 10.98% of total ARKB, valued at $162 million.