ARK Invest Sells Over 1.5M Shares Of Its Own Bitcoin ETF

Cathie Wood's ARK Invest sold over 1.5 million shares of its own Bitcoin ETF, the ARKB, across the ARKW and ARKF funds on Monday. This move came ahead of the CLARITY Act vote in the Senate on Tuesday.

The sales represented approximately 1.53% of the respective funds' holdings. The ARK Next Generation Internet ETF (ARKW) saw the largest share of the sale, with over 1 million shares sold, while the ARKF Fintech Innovation ETF saw another 466,133 shares sold.

Additionally, Cathie Wood's firm trimmed positions in nearly every crypto-linked holding in its portfolio. This included selling shares of Coinbase (COIN), Circle (CRCL), and Bullish (BLSH) through the ARK Innovation ETF (ARKK).

The largest dollar-weighted crypto sale in ARKK was Circle, with 113,369 shares sold. Other notable sales included Coinbase and BitMine Immersion Technologies (BMNR), both of which were down more than 4% in pre-market trading.