🔥 ARK Invest Sells $65M in Crypto Assets Ahead of CLARITY and FOMC
Cathie Wood’s ARK Invest used yesterday’s rally to sell nearly $65M worth of crypto-related stocks and ETFs, reducing exposure ahead of the CLARITY Act vote and the Fed’s rate decision.
Details:
• $7M Coinbase and $13.8M Circle
• $3.96M Bitmine and $688K Bullish
• The biggest sale was $40M of ARKB, ARK’s Bitcoin ETF — its largest-ever reduction in the fund.
ARK has a rule limiting individual holdings to 10% of a portfolio, so this could simply be profit-taking and portfolio rebalancing rather than a bearish bet on the two upcoming events
$BTC $ETH $ZEC
Cathie Wood’s ARK Invest used yesterday’s rally to sell nearly $65M worth of crypto-related stocks and ETFs, reducing exposure ahead of the CLARITY Act vote and the Fed’s rate decision.
Details:
• $7M Coinbase and $13.8M Circle
• $3.96M Bitmine and $688K Bullish
• The biggest sale was $40M of ARKB, ARK’s Bitcoin ETF — its largest-ever reduction in the fund.
ARK has a rule limiting individual holdings to 10% of a portfolio, so this could simply be profit-taking and portfolio rebalancing rather than a bearish bet on the two upcoming events
$BTC $ETH $ZEC
