Ark Invest Sells Large Stakes in Crypto-Linked Assets Amid Regulatory Uncertainty
Ark Invest made significant changes to its portfolio on September 14, selling large stakes in several crypto-linked assets. The asset manager reduced its weighting in cryptocurrency-related assets, with one of the most notable sales being 1,528,953 shares of the ARK-21Shares spot bitcoin ETF (ARKB) worth approximately $40 million based on the September 14 close.
The stake sale was not limited to the ARKB ETF. Ark Invest also reduced its holdings in Circle and Coinbase, selling 142,350 Circle shares worth about $13.8 million and 36,628 Coinbase shares worth around $7 million respectively.
The sales were seen as a portfolio rebalancing move on a day when crypto-related stocks showed strength, with the three assets whose weightings Ark Invest cut all closing higher. The asset manager frequently adjusts its holdings based on stock prices and changes in portfolio weightings, limiting the weight of any single holding in its ETFs to no more than 10%.