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Reading: Ark Invest Sells $2.8M Worth of Bitcoin ETF Shares Amid Ongoing Market Growth
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Deythere > News > News > Ark Invest Sells $2.8M Worth of Bitcoin ETF Shares Amid Ongoing Market Growth
News

Ark Invest Sells $2.8M Worth of Bitcoin ETF Shares Amid Ongoing Market Growth

the sale of Bitcoin ETF shares by Ark Invest featuring financial graphs subtle Bitcoin symbols and abstract representation
Emiliano Trejo
Last updated: September 24, 2024 10:19 am
By
Emiliano Trejo
Published September 24, 2024
3 Min Read
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The cryptocurrency market witnessed significant activity on Monday, with notable movements in spot Bitcoin ETF shares. Ark Invest, a major player in the investment world, recently sold shares from its ARKB spot Bitcoin ETF, shedding light on the current market conditions and investor sentiment.

Contents
  • Ark Invest’s Strategic Sale of ARKB Shares
  • Tesla’s Dominance in ARKW
  • Market Performance and Trading Activity
  • Trends in U.S. Spot Bitcoin ETFs
  • Opposite Movements in Ethereum ETFs

Ark Invest’s Strategic Sale of ARKB Shares

On Monday, Ark Invest made a strategic move by selling 44,609 ARKB spot Bitcoin ETF shares, generating approximately $2.8 million. This transaction took place within the company’s Next Generation Internet ETF (ARKW). Despite this sale, ARKB remains a significant part of the ARKW fund, comprising 9.93% (about $139.7 million) of the total portfolio as of September 24. ARKB’s influence in the fund is still notable, representing close to 5% of the total $2.9 billion in assets under management.

Tesla’s Dominance in ARKW

In comparison, Tesla holds the largest position in the ARKW fund, with a 10.15% share worth approximately $142.9 million. Tesla’s strong presence in the fund reflects investor confidence in the stock, even in a volatile market environment. Its performance continues to have a significant impact on the overall value and direction of the ARKW fund.

the sale of 2.8 million worth of Bitcoin ETF shares by Ark Invest. The image features subtle representations of Bitcoin fi

Market Performance and Trading Activity

On Monday, ARKB shares closed at $63.25, marking a 0.8% daily increase and a 26.5% rise year-to-date. Meanwhile, Bitcoin’s price remained relatively steady, with a modest 0.3% increase to $63,676, according to Deythere‘s Bitcoin Price Page.

Trends in U.S. Spot Bitcoin ETFs

Monday saw net inflows of $4.5 million into U.S. spot Bitcoin ETFs, marking the third consecutive day of positive inflows totaling over $250 million. This trend underscores growing investor confidence and a positive outlook toward these financial instruments.

Opposite Movements in Ethereum ETFs

Contrary to the upward trend in Bitcoin ETFs, U.S. spot Ethereum ETFs experienced significant outflows, with $79.3 million withdrawn on Monday. This marked the largest daily net outflow for Ethereum ETFs since late July, suggesting a more cautious sentiment among investors regarding Ethereum’s near-term prospects.

Monday’s activities highlight significant movements in the crypto ETF market, particularly with Ark Invest’s strategic sale of ARKB shares and the contrasting inflow-outflow patterns between Bitcoin and Ethereum ETFs. Investors are encouraged to closely monitor these trends to better understand market dynamics and make informed decisions.

Ark Invest, Bitcoin ETF, ARKB, Tesla, Ethereum ETFs

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ByEmiliano Trejo
Emiliano Trejo has spent the last 9 years immersed in the world of blockchain and cryptocurrencies, becoming a prominent figure in the industry. With a background in economics and a keen interest in decentralized systems, Emiliano has contributed to several groundbreaking projects, including the development of blockchain-based financial products and services. His expertise lies in the intersection of blockchain technology and economic models, where he excels in creating innovative solutions that leverage the benefits of decentralization. At DT NEWS, Emiliano shares his deep knowledge of the global cryptocurrency market, offering insights that help readers understand both the technical and economic implications of blockchain innovations.
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