Ark Invest sold Block, Bullish and Ark 21Shares Bitcoin ETF shares on Monday while buying Nvidia and SoFi Technologies. The Ark 21Shares Bitcoin ETF recorded net outflows on the day, as did U.S. spot bitcoin ETFs overall.
Cathie Wood's Ark Invest sold $6.1 million worth of Block shares and $1.1 million worth of Bullish shares through its ETFs on Monday. It also trimmed its own bitcoin ETF and added to Nvidia and SoFi Technologies.
Ark sells Block, Bullish and its own bitcoin ETF
According to Ark's latest trading disclosure, it sold 68,997 shares of Block and 49,767 Bullish shares. Block's stock rose 3.6% to close at $88.56, while Bullish gained 7% to $22.80.
Ark also offloaded $1.6 million worth of shares in its own Ark 21Shares Bitcoin ETF. That fund, which had $2.15 billion in net assets, recorded $9.9 million in net outflows on Monday. Those outflows contributed to $201.1 million in total net outflows across U.S. spot bitcoin ETFs.
Nvidia and SoFi purchases
Meanwhile, the firm purchased $6.8 million worth of SoFi Technologies shares and $16.2 million worth of Nvidia shares. SoFi's shares closed up 3.33% at $16.75 on Monday.
The fintech company reported 503,000 crypto products at the end of September, according to its latest earnings report. Its gross crypto transaction revenue rose 20% quarter over quarter to $161.6 million.
Nvidia, by contrast, fell 4.27% on Monday to $178.67. The AI chipmaker said its board of directors is investigating CEO Jensen Huang's relationship with a woman reportedly identified by intelligence officials as a Chinese spy.
Ark regularly rebalances its ETF weightings to keep individual stock holdings below 10% of a fund's portfolio.
Source: The Block
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