Tags: ARK Invest

The company with over $20 billion in AUM has made room in the portfolio for the second-largest crypto asset.

The purchases marked Ark Invest’s first since June 2023, when the company bought $21 million worth of COIN.

The U.S. spot Bitcoin ETF market has been on a 13-day inflow streak despite Ark Invest’s ARKB seeing outflows of roughly $100 million yesterday.

Despite Coinbase’s strong performance, Ark Invest chose to offload shares.

Tuesday saw the second consecutive day of outflows for ARKB, with $87.5 million in exodus, surpassing GBTC’s $81.9 million.

Ark Invest sold 74,291 Coinbase shares across three funds on Monday, amid Bitcoin’s bullish rise boosting COIN prices.

This sale is ARK’s second-largest weekly COIN shares offload since July 2023. Previous record was set on Feb 16 with $151M in sales.

The Ark 21Shares ARKB spot Bitcoin exchange-traded fund has become the third to cross a billion dollars in assets under management. 

Ark insisted that bitcoin has become an independent asset class worthy of a “strategic allocation in institutional portfolios.

Wood defends Bitcoin, highlighting its value and robust security. She emphasizes its network surpasses tech giants’ cloud size.

ARK has upped the ante for its recently launched spot Bitcoin ETF by acquiring shares aggressively.