In light of a notable rise in cryptocurrency prices, ARK Invest has made strategic adjustments to its investment portfolio.
The investment firm has sold around 1.52 million shares of its Bitcoin ETF (ARKB) for approximately $40 million, in addition to divesting 142,000 shares of Circle for about $13.8 million. Other notable sales included shares in Coinbase valued at $7 million, Bitmine for $3.96 million, and Bullish for roughly $688,000.
These transactions were driven by the recent uptick in Bitcoin and related crypto stock values, which increased their representation in ARK's portfolios beyond the firm's 10% target limit.
