Key Takeaways
- • ARK Invest sold about $1.59M of ARKB (21Shares Bitcoin ETF) shares, 64,295 shares valued at Monday's close, while U.S. spot Bitcoin ETFs saw $201.1M in outflows on Nov. 9.
- • ARK sold 49,767 Bullish shares worth approximately $1.13M and 68,997 Block shares worth roughly $6.1M in the same period.
- • ARK bought $6.8M of SoFi Technologies shares and $16.2M of Nvidia shares, per the trade data reported by Coin Edition.
- • Crypto-linked equities made up roughly 18% to 29% of the portfolios of ARKK, ARKW and ARKF, according to the article.
- • The article notes the trades alone do not establish whether ARK was taking profits, reducing risk or responding to market conditions.
Summary
Cathie Wood's ARK Invest sold about $1.6 million in ARK 21Shares Bitcoin ETF (ARKB) shares and $1.1 million in Bullish stock, while also selling Block shares and buying SoFi Technologies and Nvidia, according to Coin Edition. The trades combined reduced exposure to a spot Bitcoin fund and a crypto exchange operator with purchases elsewhere in ARK's portfolio.
The sales were priced at Monday's close. ARK sold 64,295 ARKB shares, worth about $1.59 million, and 49,767 Bullish shares valued at approximately $1.13 million. Bullish stock rose 7% to $22.80 that day. ARK also sold 68,997 Block shares for roughly $6.1 million as Block gained 3.6% to close at $88.56. ARKB had $2.15 billion in net assets and recorded $9.9 million in net outflows on Nov. 9. U.S. spot Bitcoin ETFs together saw $201.1 million leave their funds that day, with the weekly total reaching $1.28 billion, led by $1.21 billion in outflows from BlackRock's IBIT.
On the buy side, ARK purchased $6.8 million in SoFi Technology shares and $16.2 million in Nvidia shares. SoFi closed 3.33% higher at $16.75. The article notes SoFi reported 503,000 crypto products at the end of September and gross crypto transaction revenue up 20% quarter over quarter to $161.6 million, and that it launched SoFi Earn, an interest-bearing tokenized deposit, in October. Nvidia fell 4.27% to $178.67 on Monday. The article also references reporting by The New York Times that Nvidia's board was investigating CEO Jensen Huang's relationship with a woman reportedly identified by intelligence officials as a Chinese spy, based on a memo alleging she had been recruited by China's Ministry of State Security.
ARK regularly rebalances ETF allocations to keep individual stock holdings below 10% of a fund's portfolio. Crypto-linked equities accounted for roughly 18% to 29% of the portfolios of the flagship funds ARKK, ARKW and ARKF. The article stresses that the trades do not by themselves reveal whether ARK was taking profits, reducing related risk or adjusting to changing market conditions.
The sales were priced at Monday's close. ARK sold 64,295 ARKB shares, worth about $1.59 million, and 49,767 Bullish shares valued at approximately $1.13 million. Bullish stock rose 7% to $22.80 that day. ARK also sold 68,997 Block shares for roughly $6.1 million as Block gained 3.6% to close at $88.56. ARKB had $2.15 billion in net assets and recorded $9.9 million in net outflows on Nov. 9. U.S. spot Bitcoin ETFs together saw $201.1 million leave their funds that day, with the weekly total reaching $1.28 billion, led by $1.21 billion in outflows from BlackRock's IBIT.
On the buy side, ARK purchased $6.8 million in SoFi Technology shares and $16.2 million in Nvidia shares. SoFi closed 3.33% higher at $16.75. The article notes SoFi reported 503,000 crypto products at the end of September and gross crypto transaction revenue up 20% quarter over quarter to $161.6 million, and that it launched SoFi Earn, an interest-bearing tokenized deposit, in October. Nvidia fell 4.27% to $178.67 on Monday. The article also references reporting by The New York Times that Nvidia's board was investigating CEO Jensen Huang's relationship with a woman reportedly identified by intelligence officials as a Chinese spy, based on a memo alleging she had been recruited by China's Ministry of State Security.
ARK regularly rebalances ETF allocations to keep individual stock holdings below 10% of a fund's portfolio. Crypto-linked equities accounted for roughly 18% to 29% of the portfolios of the flagship funds ARKK, ARKW and ARKF. The article stresses that the trades do not by themselves reveal whether ARK was taking profits, reducing related risk or adjusting to changing market conditions.
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