Ark Invest sells $64M in crypto holdings including ARKB

Ark Invest has reportedly sold approximately $64 million in crypto-related holdings during a period of market growth. The sales included positions in Coinbase, Circle, Bitmine, and Bullish, as well as shares of its own spot Bitcoin ETF, ARKB.

ARKB, launched by Ark Invest and 21Shares in January 2024, is a passively managed exchange-traded fund designed to provide direct exposure to Bitcoin's price performance. The fund utilizes Coinbase Custody Trust Company as its custodian and currently holds approximately $2.52 billion in net assets.

Analysts note that such sales are often part of a rebalancing strategy to manage the relative exposure of crypto assets within Ark's flagship ETFs. While the $64 million figure represents a reduction, it remains a fraction of the firm's total crypto-related holdings, which have historically reached hundreds of millions of dollars.