Ark Invest sells $40M in Bitcoin ETF

• Ark Invest has sold about $40 million of its ARK 21Shares Bitcoin ETF (ARKB) holdings.
• The firm has also sold $13.8 million of Circle, $7 million of Coinbase and smaller positions in Bitmine and Bullish.
• The sales have come as crypto-linked stocks and the Bitcoin ETF have risen.

Ark Invest has sold about $40 million of its ARK 21Shares Bitcoin ETF (ARKB) while reducing several crypto-linked stock positions.

The firm has sold 1,528,953 ARKB shares, alongside 36,628 Coinbase shares worth about $7 million and 142,350 Circle Internet Group shares worth about $13.8 million.

Ark has sold the positions as crypto-related stocks have risen, with Coinbase closing 9.24% higher at $191.45 and Circle gaining 7.53% to $97.42.

The firm has also sold 153,881 Bitmine Immersion Technologies shares worth about $3.96 million and 18,280 Bullish shares worth about $687,693.

ARKB has closed 2.22% higher at $26.19, while Bitmine and Bullish have gained 2.92% and 7.12%, respectively, on the same trading day.

Ark has routinely added and trimmed crypto holdings based on market conditions, with its investment strategy limiting individual positions to 10% of an ETF's portfolio.

The latest sales have come as optimism around the Clarity Act has supported crypto-linked stocks, although the Senate has since failed to advance the legislation.