Ark Invest Sells BitMine, Bullish and Other Crypto Stocks, Buys More SpaceX
Summary
- Ark Invest sold crypto-related stocks including BitMine, Bullish, Block and Robinhood.
- It sold 120,665 shares of BitMine through the ARK Innovation ETF in a transaction worth about $2 million.
- By contrast, Ark Invest bought 128,932 shares of SpaceX through several ETFs in a transaction worth about $14.5 million.
Forecast Trend Report by Period
Ark Invest, the investment firm led by Cathie Wood, sold crypto-related stocks including Bullish and BitMine.
The Block reported on July 30 that Ark Invest sold 120,665 shares of BitMine through its ARK Innovation ETF a day earlier. The sale was worth about $2 million.
BitMine is the world's largest corporate holder of Ether. Its shares fell 5.6% to $16.59 that day.
Ark Invest also sold 13,403 shares of Block, 12,561 shares of Robinhood and 11,314 shares of Bullish, trimming its exposure to crypto-linked stocks. All three stocks also declined that day.
By contrast, Ark Invest bought a total of 128,932 shares of SpaceX through several ETFs. The purchases were worth about $14.5 million.
SpaceX shares fell 3.32% to $112.55 that day, more than $20 below the company's initial public offering price of $135.
Ark Invest regularly rebalances its holdings so that no single stock accounts for more than 10% of any individual ETF portfolio.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul