PANews reported on July 25 that according to The Block, on Wednesday, Cathie Wood's Ark Invest sold 118,209 shares of the ARKB spot Bitcoin ETF jointly issued by it and 21Shares from its ARKW fund, worth $7.76 million. This is the first time Ark Invest has sold ARKB shares since the launch of the spot Bitcoin ETF in January.
Ark's investment strategy aims to not have any single holding make up more than 10% of the ETF's portfolio. This is to maintain diversification within its fund -- meaning if ARKB rises relative to Ark's other holdings in the fund, it will likely continue to adjust its weighting.
According to the company's latest disclosure, ARKB is the largest holding in its ARKW exchange-traded fund, with a weight of 10.98% as of July 24, ahead of Tesla, Roku and Coinbase stocks, which have a market value of 9.5%, 8.48% and 8.23%, respectively. ARKW holds ARKB with a market value of $162.5 million, and the spot Bitcoin ETF has risen about 31% since its inception. Overall, the ARKW fund has risen 33% over the past year.
