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ARK Price   

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ARK

Ark  

#ARK

ARK Price:
$0.83
Volume:
$2.9 M
All Time High:
$10.92
Market Cap:
$0.1 B


Circulating Supply:
180,939,214
Exchanges:
7
Total Supply:
180,939,214
Markets:
9
Max Supply:
Pairs:
20



  ARK PRICE


The price of #ARK today is $0.83 USD.

The lowest ARK price for this period was $0, the highest was $0.829, and the current live price for one ARK coin is $0.82852.

The all-time high ARK coin price was $10.92.

Use our custom price calculator to see the hypothetical price of ARK with market cap of ETH or other crypto coins.


  ARK OVERVIEW


The code for Ark is also #ARK.

Ark is 7.2 years old.


  ARK MARKET CAP


The current market capitalization for Ark is $149,911,669.

Ark is ranked #284 out of all coins, by market cap (and other factors).


  ARK VOLUME


The trading volume is big during the past 24 hours for #ARK.

Today's 24-hour trading volume across all exchanges for Ark is $2,920,974.


  ARK SUPPLY


The circulating supply of ARK is 180,939,214 coins, which is 100% of the total coin supply.


  ARK EXCHANGES


ARK is available on several crypto currency exchanges.

View #ARK trading pairs and crypto exchanges that currently support #ARK purchase.


  ARK RESOURCES


Websiteark.io
Whitepaperark.io/whitepaper
TwitterArkEcosystem
Redditr/ArkEcosystem
Telegramarkannouncements


  ARK NEWS


Cathie Wood-led Ark Invest Slashes Coinbase Holdings by $15.1M

    Cathie Wood-led Ark Invest has yet again slashed its holdings in Coinbase (COIN). The company sold 70,616 shares of Coinbase, totaling $15.1 million, spread across three of its exchange-traded funds on May 7th. The move came despite the positive first-quarter earnings report from the exchange, which showed higher revenue than expected and a record high in institutional trading volume. The investment firm's decision involved selling 45,915 shares worth $9.8 million from its Innovation ETF (ARKK), 17,755 shares worth $3.8 million from its Next Generation Internet ETF (ARKW), and 6,946 worth $1.5 million from its Fintech Innovation ETF (ARKF), as per their recent trade filing. Ark was also involved in the $20.4 million sale of COIN less than a month back. This investment strategy seems to limit exposure to any single stock in its ETF portfolio to no more than 10%. Such an approach ensures a well-diversified portfolio. Ark Invest had previously voiced its plans to continue rebalancing and selling off shares if Coinbase's weighting surpasses this threshold compared to other investments. Meanwhile, Coinbase reported total revenue of $1.64 billion, surpassing the Street consensus estimate of $1.34 billion. Despite this strong performance, Ark Invest chose to offload shares, indicating a strategic move that might be influenced by various factors beyond Coinbase's recent financial success. Coinbase ranks as the third-largest holding in ARKK ETF, constituting 8.2% of the portfolio, tra... read More



Cathie Wood's ARK Invest Accidentally Owns $15,000 Bitcoin Puppet

    Cathie Wood has been one of the biggest proponents of Bitcoin. Interestingly, the investor's financial company accidentally owns a Bitcoin Puppet. Arkham's latest update revealed a fascinating twist involving the investment management firm's inadvertent ownership of a Bitcoin Puppet valued at $15,000. The Bitcoin Puppet in question found its way into a custody wallet associated with their ARKB ETF, sparking curiosity about its origins. The Puppet's history traces back to January 4th, when it was inscribed by bc1psg and subsequently transferred through two related Ordinals wallets. On February 5th, a Quantum Cat was minted by wallet bc1pcw, inadvertently using the Puppet's inscribed satoshis as payment. The Puppet then passed through several wallets associated with Wintermute, Coinbase, and Flow Traders before ending up in ARK Invest's custody wallet. Additionally, ARK has received multiple Ordinals airdrops from the Puppet community. In the past year, Bitcoin Ordinals have surged in popularity within the digital collectible space, even capturing the interest of financial powerhouse Franklin Templeton. The company recently commented that Ordinals are catalyzing a 'Renaissance' in Bitcoin activity. Bitcoin Puppets, along with other notable collections like NodeMonkes, Runestone, Ordinal Maxi Biz, and Bitmap, have also started to assert their dominance in the NFT arena. This trend reflected a growing recognition of Bitcoin's versatility beyond its conventional function as a dig... read More



Cathie Wood's ARK Bitcoin ETF Records Daily Outflows Surpassing Grayscal...

    Cathie Wood's ARK 21Shares Bitcoin exchange-traded fund (ETF) recorded net outflows exceeding $87 million on Tuesday, marking the highest outflow since its inception, as per data from Farside Investors. The outflows exceeded the amount seen from Grayscale's GBTC, which recorded $81.9 million in outflows on the same day. Ark Invest Sees Second Day of Outflows On April 2, Ark 21Shares Fund's (ARKB) outflows amounted to $87.5 million, equivalent to roughly 1,300 BTC. This marked the second consecutive day of outflows for ARKB, with $300,000 on April 1, its first-ever day of being net negative. Grayscale, which has consistently experienced outflows since converting to a spot Bitcoin ETF, also recorded another negative day.  However, the total number was relatively low on this occasion since it averaged $254 million per day in the past five trading days. Over the past three months, the ETF has experienced a total outflow of around $15.1 billion. Despite this, GBTC remains the largest holder of Bitcoin among all funds, corporations, and miners, with approximately 329,000 BTC held. Despite the recent consecutive outflows, ARKB remains the third-largest among the ten newly launched spot ETFs, excluding Grayscale, with $2.2 billion in assets under management (AUM). Additionally, ARKB ranks sixth in Bitcoin holdings among funds, corporations, and miners, currently holding 44,662 BTC. On the other hand, BlackRock's IBIT saw the highest net inflow of $150.5 million, followed by Fide... read More



Ark Invest Offloads $21M in Coinbase Shares as COIN Price Surges

    Ark Invest has sold 74,291 Coinbase shares, valued at $20.8 million, across three exchange-traded funds, per their latest trade filing on Monday. This sale comes following the firm’s sale of over $100 million worth of Coinbase shares last week when the price of COIN reached new yearly highs. Ark Invest Sells Coinbase Shares Ark Invest has sold shares from its ETFs: 57,652 from Innovation ETF (ARKK) worth $16.1M, 12,544 from Next Generation Internet ETF (ARKW) worth $3.5M, and 4,095 from Fintech Innovation ETF (ARKF) worth $1.2M. Ark aims to keep any single holding below 10% of an ETF's portfolio for diversification, meaning it might keep rebalancing funds if Coinbase’s stock rises. Coinbase is currently the largest holding in ARKK, ARKW, and ARKF ETFs, weighing 10.6%, 10.9%, and 12.7%, respectively. The market value of ARKK’s Coinbase holdings stands at $826.6 million, with ARKW and ARKF’s Coinbase investments valued at $188.9 million and $147.9 million. Over the past year, ARKK, ARKW, and ARKF have seen gains of 29.5%, 58.2%, and 59.5%, respectively. Meanwhile, Ark Invest sold $7.9 million of Jack Dorsey's Block shares and $31.5 million of Robinhood (HOOD) stock on Monday. Additionally, on Friday, the firm unloaded $5.76 million of HOOD stock, including 229,586 Robinhood shares worth $4.20 million from ARKK, 50,711 HOOD shares worth over $928,000 from ARKW, and 34,492 Robinhood shares valued at over $631,000 from ARKF. Coinbase Stock on the Rise On Mo... read More



Why Did ARK Invest Sell $150M Coinbase (COIN) Shares in a Week?

    ARK Invest, the investment management firm led by Cathie Wood, recently divested 580,000 Coinbase (COIN) shares. The transaction, valued at $149.85 million based on Friday's closing price, underscores the company's strategic investment decisions. Second-Largest Offload Since 2023 This sale represents ARK’s second-largest weekly offload of COIN shares since July 2023. The previous record was set during the week ending February 16, when ARK sold shares worth $151 million. ARK’s commitment to maintaining a balanced portfolio drove the decision to sell. As part of its strategy, ARK aims to prevent any individual holding from exceeding a 10% weighting of an ETF’s total value. Large sell-offs become necessary when an asset experiences rapid appreciation, such as the recent surge in Bitcoin’s price. Despite the substantial sale, COIN’s weighting across ARK’s three ETFs - Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF) - remains comfortably above the 10% threshold. Investors can expect further sales from ARK, especially after Bitcoin recently hit a new all-time high above $72,000. Coinbase Shares Soar Over 80% Amid Crypto Rally Meanwhile, Coinbase shares have been on an upward trajectory, gaining over 80% in value in the past month alone. This surge is closely tied to the nearly 50% rally in Bitcoin’s price during the same period. Coinbase (COIN) also experienced a surge following its fourth-quart... read More



Ark Invest Diversifies Crypto Holdings, Buys $15.9 Million of Its Own Sp...

    Ark Invest has transitioned $15.9 million from the Proshares Bitcoin Strategy ETF to its in-house Ark 21shares Spot Bitcoin ETF.Cathie Wood's Ark Invest Redirects Millions to In-house Bitcoin ETF Ark Invest, led by fund manager Cathie Wood, has made several trades based around bitcoin exchange-traded products. The firm has sold its holdings in the Proshares Bitcoin Strategy ETF (BITO), a bitcoin futures ETF, and redirected these funds to bolster its holdings in its own Ark 21shares Spot Bitcoin ETF (ARKB). it begins Ark sold $BITO to buy its own spot Bitcoin ETF $ARKB in its Next Generation Internet ETF today pic.twitter.com/5WYEj564C0 — Katie Greifeld (@kgreifeld) January 17, 2024 The reshuffling involved Cathie Wood's ARK Next Generation Internet ETF (ARKW) reducing its stake in BITO in order to increase its investment in the Ark 21shares Spot Bitcoin ETF. This move resulted in the purchase of $15.9 million worth of shares in ARKB. Following this transaction, ARKB shares closed at $43.51 on Tuesday, marking a 0.80% decrease. Prior to the approval of spot bitcoin ETFs in the U.S., ARKW had made futures-based cryptocurrency investments. ARKW had initially acquired 20,000 shares of the ARK 21shares Active Bitcoin Futures Strategy ETF (ARKA) and 4.32 million shares of BITO. The BITO shares were paid for by completely liquidating its holdings in the Grayscale Bitcoin Trust (GBTC). This move was interpreted by Bloomberg Intelligence analyst Eric Balchunas as a “temp... read More



Cathie Wood's ARK Bolsters Position with $16M Purchase of Its Bitcoin ET...

    Cathie Wood's ARK Investment Management LLC is actively acquiring shares of its recently introduced spot Bitcoin ETF, intensifying the competition among the initial issuers. The ARK Next Generation Internet ETF (ARKW) divested $16 million from its position in the futures-backed ProShares Bitcoin ETF (BITO) on Tuesday. This move was made to accommodate the purchase of 365,427 shares of the ARK 21 Shares Bitcoin ETF (ARKB), constituting 1% of the ARKW fund, as per data compiled by Bloomberg. ARK Channeling Resources into ARKB According to the reports, the latest move of reallocating funds from its sister fund to invest in ARKB positions it favorably amidst the fiercely competitive landscape of spot Bitcoin ETFs. With the US Securities and Exchange Commission (SEC) allowing the simultaneous launch of 11 such ETFs last week, the absence of a first-mover advantage has transformed the scenario into a high-stakes race, considering all funds share the same underlying asset. Channeling the company's resources into its own ETF emerges as a swift method to achieve scale, a crucial factor for financial advisers and platforms, many of which impose minimum-asset thresholds, as per Bloomberg Intelligence. Bloomberg Intelligence ETF analyst James Seyffart commented, 'Cathie Wood buying ARKB with her other ETFs is a little bit of a cheat code in raising assets and volume, but she’s not the only issuer that can do this and this isn’t the only cheat code available. We could see othe... read More



Vanguard Deepens Anti-Crypto Stance After Disallowing Spot Bitcoin ETF T...

    Investing giant Vanguard has doubled down on its anti-bitcoin and anti-crypto stance after disallowing investors access to spot bitcoin ETFs approved by the U.S. Securities and Exchange Commission (SEC) this week. The firm has also announced that it will no longer accept the purchase of cryptocurrency products, including bitcoin futures ETFs. Ark Invest CEO Cathie Wood called this decision 'a terrible mistake' and 'a strategic blunder.'Vanguard's Anti-Crypto/Bitcoin Policy Intensifies Investing giant Vanguard has doubled down on its anti-crypto and anti-bitcoin policy in addition to blocking customers from trading spot bitcoin exchange-traded funds (ETFs) recently approved by the U.S. Securities and Exchange Commission (SEC). A spokesperson for Vanguard told Axios Friday: In addition to spot bitcoin ETFs not being available for purchase on the Vanguard platform, effective immediately, Vanguard will no longer accept the purchase of cryptocurrency products, including bitcoin futures ETFs. 'This change allows us to focus on offering a core set of products and services consistent with our commitment to serve the needs of long-term investors,' the spokesperson added. When customers saw they couldn't trade new spot bitcoin ETFs on Thursday, Vanguard stated: 'Spot bitcoin ETFs will not be available for purchase on the Vanguard platform. We also have no plans to offer Vanguard bitcoin ETFs or other crypto-related products. Our perspective is that these products do not align with our ... read More



Ark Invest Now Sees Higher Probability of Bitcoin Soaring to $1.5 Millio...

    Ark Invest CEO Cathie Wood has doubled down on her bullish bitcoin forecasts, now seeing a higher probability of the price of bitcoin soaring to $1.5 million per coin. She emphasized that the approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) has raised the probability of her bull case prediction.Ark Invest Sees Increased Probability of Bitcoin Reaching $1.5 Million Cathie Wood, the CEO of Ark Investment Management (Ark Invest), doubled down on her bitcoin price predictions on Thursday following the approval of 11 spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). Referencing Ark's Big Ideas 2023, the asset management firm's yearly report highlighting 'the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow,' Wood explained: 'Our base case is in the $600,000 range' for the price of bitcoin. Ark's 'bull case' prediction sees the price of BTC reaching $1.48 million per coin. Wood detailed: We think the probability of the bull case has increased with this ETF approval, this is a green light. Our bull case is $1.5 million by 2030. 'This is a big idea. It is the first global decentralized digital … rules-based monetary system in history. It's a very big idea,' the Ark Invest executive opined. Ark and 21shares' spot bitcoin ETF proposal was one of the 11 spot bitcoin ETFs approved by the SEC on Wednesday. On the first d... read More



Ark Invest CEO Expects Spot Bitcoin ETFs to Attract 'Substantial' Instit...

    Ark Invest CEO Cathie Wood expects spot bitcoin exchange-traded funds (ETFs) to move the price of bitcoin 'much higher.' The securities regulator is expected to make a decision on spot bitcoin ETFs by Wednesday. 'We think that the SEC approval, should we and others get it, is a green light for institutions. We've been talking to quite a few of them, and they're much more interested now that the SEC effectively is paving the way,' the executive shared.Cathie Wood on Potential Spot Bitcoin ETF Approvals The CEO of Ark Investment Management, Cathie Wood, shared her view on the potential spot bitcoin exchange-traded fund (ETF) approvals by the U.S. Securities and Exchange Commission (SEC) in an interview with CNBC Monday. Her firm's joint proposal with 21shares is up for a decision on Wednesday, the first deadline for spot bitcoin ETF applications this year. Regarding whether institutional investors are more open to investing in bitcoin with the expected approval of spot bitcoin ETFs, the Ark executive said: We think that the SEC approval, should we and others get it, is a green light for institutions. We've been talking to quite a few of them, and they're much more interested now that the SEC effectively is paving the way. When asked about whether her firm's spot bitcoin ETF proposal will be approved by the SEC, she replied: “We do think the probability is very high that the bitcoin ETF will be approved this week, and the reason, as we've been saying, is the SEC actually, ... read More



Ark Invest Continues to Sell Coinbase Shares

    In a strategic move, Ark Invest has offloaded another portion of its Coinbase holdings, selling over $29 million worth of COIN shares from its ETFs. This decision aligns with Ark's target weighting policy and follows Coinbase's strong performance in the last quarter of 2023.Ark Invest Sells Over $29 Million in Coinbase Shares Amid Portfolio Rebalancing Ark Invest, led by CEO Cathie Wood, has been actively selling shares of Coinbase (Nasdaq: COIN), further reducing its stake in the crypto exchange, although Coinbase still is one of the most significant assets of Ark’s portfolio. On Jan. 3, Ark sold a total of 166,183 COIN shares from its Innovation ETF (ARKK) and Next Generation Internet ETF (ARKW) for a value of $25.3 million at the closing price for the day. The following day, Jan. 4, Ark sold a further 26,743 COIN shares valued at $4.16 million at its closing price. These recent sales are not out of the ordinary. Ark Invest’s ETFs are target-weighted such that no individual holding should exceed 10% of the fund’s total value. With COIN more than doubling in price in Q4 of 2023, it has exceeded that 10% target in both ARKK and ARKW, resulting in these sales. Indeed, Ark offloaded COIN shares throughout December, including $33 million worth on Dec. 5 and $42 million on Dec. 13. This move comes amidst the impending U.S. Securities and Exchange Commission (SEC) announcement on spot bitcoin ETFs. The SEC is currently considering 13 proposed spot bitcoin ETFs. ... read More



ARK Invest Pivots To Bitcoin As Cathie Wood Expects BTC Price To Explode

    CEO of ARK Invest, Cathie Wood has shared her perspective on the approval timeline for Spot Bitcoin ETFs. She has also highlighted the significant impact the official authorization of Bitcoin ETFs would have on the price of BTC. BTC Price Boom Predicted Following ETF Acceptance Founder and CEO of American asset investment management firm, ARK Invest, Catherine Duddy Wood has recently appeared in an interview with Yahoo Finance. The live interview which was published via YouTube centers on Wood’s views and opinions regarding the potential approval of Spot Bitcoin ETFs and its effect on the price of BTC.  According to the ARK Invest CEO, the price of BTC could surge substantially if the United States Securities and Exchange Commission (SEC) approves Spot Bitcoin ETFs for institutional investors.  “What we think is going to happen here is that the SEC is going to be giving BTC, a spot bitcoin ETF, the green light for institutional investors to participate. I think a lot of institutions have been reticent before the SEC approves a spot bitcoin ETF to do very much at all in the crypto asset world,” Wood stated. She added: “All we need is for the trillions of dollars in institutional assets out there to allocate maybe 0.1% or 0.2% to an ETF, which will be one of the easiest ways to gain exposure and one of the most efficient ways to gain exposure to BTC. That will move the price significantly.”  Bitcoin ETF Approval Expected In Januar... read More



Ark Invest CEO Cathie Wood Expects Spot Bitcoin ETFs to Boost BTC Price ...

    Cathie Wood, CEO of Ark Investment Management, foresees widespread institutional involvement in spot bitcoin exchange-traded funds (ETFs) following anticipated approval by the U.S. Securities and Exchange Commission (SEC). 'All we need is for the trillions of dollars in institutional assets out there to allocate maybe 0.1% or 0.2% to an ETF, which will be one of the easiest ways to gain exposure and one of the most efficient ways to gain exposure to bitcoin,' she explained, adding: 'That will move the price significantly.'Ark Invest CEO Cathie Wood on Spot Bitcoin ETF Approval The CEO of Ark Investment Management (Ark Invest), Cathie Wood, shared her perspective regarding spot bitcoin exchange-traded funds (ETFs) in an interview with Yahoo Finance on Tuesday. Ark Invest is among the applicants seeking approval from the U.S. Securities and Exchange Commission (SEC) to launch a spot bitcoin ETF. The deadline for the securities regulator to make a decision on whether to approve or deny Ark's application is Jan. 10. Commenting on the SEC's attitude regarding spot bitcoin ETFs, Wood opined: 'Something did change within the last month to six weeks. After being denied several times by the SEC without hearing from anyone at the SEC, we and others we know have gotten questions from the SEC — very thoughtful, detailed, technical questions. That's a very positive move. And it's not just one set of questions. It's follow-up questions. That is really good.' The Ark Invest executive ... read More



Cathie Wood's ARK ETF Overhauls Bitcoin Portfolio: ProShares In, Graysca...

    In a significant shake-up of its Bitcoin (BTC)-related holdings, Cathie Wood's ARK Next Generation Internet exchange-traded fund (ETF) has made strategic changes as BTC ends the year with a significant 156% surge. According to a Bloomberg report, the ETF sold all its remaining 2.25 million shares of the Grayscale Bitcoin Trust (GBTC) while acquiring 4.32 million shares of the ProShares Bitcoin Strategy ETF.  Caution As Reason For Exiting Grayscale Bitcoin Trust According to Bloomberg, Wood cited caution as the reason behind the sale of the Grayscale Bitcoin Trust. The move was prompted by concerns that the anticipated conversion of the trust to a spot Bitcoin ETF might not receive approval from US regulators in early January.  Additionally, Wood highlighted the substantial reduction in the trust's discount to its net asset value, which, combined with its price increase, influenced the decision. Wood emphasized the unpredictability surrounding which Bitcoin-related offerings would gain regulatory approval, expressing optimism about Bitcoin while acknowledging the uncertainty ahead. In this regard, Bloomberg ETF expert Erich Balchunas highlights that approximately $100 million of the proceeds were used to purchase the ProShares Bitcoin Strategy ETF (BITO), likely as a liquid transition vehicle to maintain exposure to Bitcoin while gradually transitioning into either ARKW or ARKB. Interestingly, ARK has now become the second-largest holder of BITO, although Balchunas... read More



Cathie Wood's ARK Invest Waves Goodbye to Grayscale in $200 Million Exit

    ARK Invest - the institutional asset management firm led by Cathie Wood - made a significant move by liquidating all of its remaining holdings in the Grayscale Bitcoin Trust (GBTC), totaling $200 million. In the previous month, GBTC stood as the largest holding in ARK's Next Generation Internet ETF. However, the asset management firm has now completely exited this position. The adjustment in the portfolio comes ahead of the anticipated decision by the Securities and Exchange Commission (SEC) next month regarding the approval of trading spot Bitcoin ETFs in the United States. Bitcoin Futures ETF: 'Temporary Parking Spot' for ARK? Bloomberg ETF analyst Eric Balchunas revealed that ARK Invest used half of the proceeds, approximately $100 million, to invest in the ProShares Bitcoin Strategy ETF (BITO). However, the analyst speculated that this move is a temporary one, serving as a strategic pause while the Florida-based fund manager seeks a more liquidity-rich portfolio. According to Balchunas, ARK appears to be using the futures Bitcoin ETF as a 'temporary parking spot' while preparing to launch its own spot Bitcoin ETF next year, pending approval from the SEC. Today ARK sold its entire remaining $GBTC position (it was ARKW's biggest holding only a month ago) and used half the money $100m-ish to buy $BITO, likely as liq transition tool to keep beta to btc while it legs into $ARKW or $ARKB. End of an era. h/t @DilksJay @funwithnumberz pic.twitter.com/J1i92qcmzo — Eric Balc... read More



Here's How Much Coinbase Shares (COIN) Ark Invest Has Sold in The Past W...

    Since the beginning of the month, leading asset management firm Ark Invest has been on a selling spree for the stock of the largest American cryptocurrency exchange, Coinbase (COIN). Barely two weeks into December, the investment manager has sold more than $119 million worth of COIN. While Ark has been offloading the shares at several intervals over the past months, it doubled down on the sales after the stock surged alongside bitcoin (BTC) to a 19-month high. How Much COIN Ark Has Sold On December 5, Ark made its first COIN sale of the month, offloading 237,572 shares worth roughly $33 million at the day’s closing price of $140.20. This was after the firm had raked in approximately $15 million from selling over 119,000 shares on November 27, 29, and 30. This month’s first sale was from three exchange-traded funds (ETFs), including Fintech Innovation (ARKF), Innovation (ARKK), and Next Generation Internet (ARKW). Ark Invest offloaded another batch of Coinbase stock on December 6, netting $24.3 million. The investment company sold 180,422 shares at the day’s closing price of $134.63 from its ARKK, ARKW, and ARKF ETFs. On Friday, December 8, Ark executed its largest COIN sale since July, offloading 335,860 shares across three ETFs, with the bulk coming from ARKK. At Coinbase’s closing price of $146.62, the sale raised $49.2 million, a little less than the $50.5 million gathered from the July sale of 480,000 shares. Ark Vies For Spot Bitcoin ETF Furthermo... read More



Cathie Wood's ARK Invest Offloads $33 Million Worth of Coinbase Shares A...

    ARK Invest, led by Cathie Wood, made a significant move by selling $33 million worth of Coinbase (COIN) stock on Tuesday, following the crypto exchange's shares reaching a 19-month high, driven by the recent surge in Bitcoin's (BTC) price. The global asset manager, known for actively adjusting its portfolio in response to cryptocurrency market dynamics and broader fintech trends, executed the sale at the day's closing price. ARK Invest Offloads Coinbase Shares The ARK Invest sale involved 237,572 COIN shares across three different exchange-traded funds (ETFs): Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF). Additionally, ARK Invest sold 168,127 shares in Grayscale's Bitcoin Trust (GBTC), amounting to approximately $5.9 million. GBTC shares closed at $35.10 on Tuesday, reaching their highest since December 2021. ARK Invest has a strategy of accumulating crypto-related shares at lower prices and divesting them during bullish market movements. The decision to sell Coinbase and GBTC shares coincided with Bitcoin's recent 5% gain, pushing its price above $44,000 for the first time since April 2022. The latest Coinbase shares sale represents one of ARK's most significant daily divestitures in 2023, ranking third after a substantial 478,356 share sale on July 14 and a 248,838 share sale on July 17, both occurring when Coinbase stock traded around $105. Coinbase's Stock Surges 280% Coinbase's stock has experienced a remarkable upward trajectory, sur... read More



Bitcoin Starts Week in Green as ARK Invest Refiles for Spot ETF & BTCETF...

    Bitcoin (BTC) has started the week in the green, climbing back above $37,000 as investors reacted positively to ARK Invest filing an updated prospectus for its spot BTC ETF. This re-filing has sparked further enthusiasm from crypto investors, indicating growing confidence in the regulatory acceptance of crypto-related funds. In related news, the trending presale crypto Bitcoin ETF Token (BTCETF) is generating significant buzz – and is expected to see a bull run when it officially launches. Growing Institutional Interest Signals Potential Spot Bitcoin ETF Approval ARK Investment's persistence in amending and re-filing its application for a spot Bitcoin ETF is the latest sign of growing institutional interest in direct cryptocurrency exposure. Major financial firms, such as BlackRock, Fidelity, and Galaxy Digital, have filed applications for spot BTC ETFs this year after facing years of rejections by the SEC. ARK’s continued updates to its prospectus, including enhanced risk disclosures, indicate it is actively working to address the SEC’s concerns. If approved, these spot Bitcoin ETFs could significantly expand access to Bitcoin for retail and institutional investors. According to Alex Thorn, head of research at Galaxy Digital, inflows to spot Bitcoin ETFs could reach more than $14 billion in the first year after potential SEC approval. With major players like ARK and BlackRock pushing for approval, there is optimism that 2023 could finally be the year a spo... read More



Bitcoin Price Prediction: Ark Invest's 'Base Case' is BTC at $650,000

    The futurist investment management firm is one of several awaiting SEC approval for a spot Bitcoin ETF product. In a recent interview, CEO Cathie Wood said 'something has changed' at the agency as they handle her fund's application for a spot Bitcoin ETF. Bitcoin price has whipsawed this week, pumping as high as $37,900 from the $35,200 handle over Tuesday and Wednesday. Then spot prices for BTC plunged below $35,800 Thursday before recovering with support at the $36,000 level Friday. Bullish: Cathie Wood's Bitcoin Price Prediction The Ark Invest CEO and founder says the Securities and Exchange Commission has started to ask questions about her hedge fund's Bitcoin ETF filing. Until recently, however, the SEC would simply outright reject Ark's applications, she said. Wood is also bullish for Bitcoin because of the upcoming halving and the currency's 21 million supply cap. Wood said in an interview with Yahoo Finance on Wednesday: 'I think- so if we look at the reasons that bitcoin will scale, so our base case is today 600 to 650- $650,000, and our bull case, based on the scarcity that is now developing[...]' After this part of her answer, Wood never gave an exact figure for Ark Invest's base case. Instead, after emphasizing the limited supply of BTC, she pointed to an imminent onrush of institutional investors, noting: 'We think that institutions, if the SEC blesses a bitcoin ETF, institutions will feel like the coast is clear for them to pursue. And we know a lot of instituti... read More



Ark Invest CEO Cathie Wood Sees Crypto Market Exploding to $25 Trillion ...

    Ark Invest CEO Cathie Wood says the crypto ecosystem will be dominated by bitcoin and ether and will scale from about $1 trillion today to $25 trillion in 2030. 'The regulatory breakthrough is very important to bring institutions online,' said the asset manager, emphasizing that the partnership between Blackrock, the world's largest asset manager, and the Nasdaq-listed crypto exchange Coinbase 'is going to be very important.'Cathie Wood's Crypto Market Outlook: $25T by 2030 Cathie Wood, the CEO and CIO of Ark Investment Management (Ark Invest), discussed the future outlook for the crypto industry and the potential approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) in an interview with CNBC on Tuesday. Wood is optimistic about the SEC approving spot bitcoin ETFs, pointing to 'significant' changes in the current regulatory landscape compared to a year ago. She mentioned, 'The SEC actually asked us questions,' referring to Ark's spot bitcoin ETF application. Wood noted that Ark's previous filings were rejected outright without any engagement. She further stated that the securities regulator also engaged with other applicants, such as Blackrock. The CEO of Ark Invest continued: 'The regulatory breakthrough is very important to bring institutions online effectively.' She emphasized, 'Blackrock and Coinbase partnership is going to be very important,' referring to the agreement where Blackrock's Ishares Bitcoin Trust will utili... read More



Crypto's 24-Hour Score: Gainers Like Memecoin Triumph With Double-Digits...

    As the cryptocurrency market sails smoothly at a valuation of $1.4 trillion, bitcoin and ethereum have stabilized, mostly moving sideways. Yet, a handful of virtual currencies enjoyed robust gains on Monday, with memecoin (MEME) soaring 44.28%, leading the charge as the week kicked off. Conversely, the digital asset ark (ARK) experienced a significant setback, declining 17.5% versus the U.S. dollar over the last day.Memecoin Rallies Sharply in a Mixed Day for Cryptocurrencies as ARK Tumbles This Monday dawned with nine cryptocurrencies achieving notable double-digit spikes in the early trading hours. Topping the list was memecoin (MEME), which climbed 44.28% against the dollar. Celestia (TIA) also made impressive strides, surging 29.25% against the greenback within the same timeframe. Not far behind, zrx (0X) and worldcoin (WLD) rose by 19.36% and 18.81%, respectively. Currently, the day's cumulative global trading volume has hit $64.04 billion, spread over 929 trading platforms and a sprawling ecosystem of over 10,000 virtual currencies. Among those making headlines for gains on Monday were filecoin (FIL), escalating 14.96%, and osmosis (OSMO), which appreciated by 12.5% within the past day. Other significant risers of the day include KUJI, YFI, FLOKI, and SNT. Topping today's downturns is ark (ARK), with a 17.5% slide over 24 hours, while rollbit (RLB) diminished by 12.03%. Both ARK and RLB were Monday's biggest losers against the greenback. On the losing front as well, ... read More



Ark Invest and 21Shares Partner to Launch Digital Asset ETFs

    Cathie Wood has announced that Ark Invest will collaborate with 21Shares to introduce a new suite of innovative exchange-traded funds (ETFs). These ETFs are designed to provide investors with diversified exposure to digital assets, including Bitcoin and Ethereum futures contracts and investments in blockchain-related companies. Ark Invest Unveils New Suite of Digital Asset ETFs Cathie Wood's Ark Invest, in collaboration with 21Shares, is preparing for the debut of a series of Exchange-Traded Funds (ETFs). These new offerings are intended to give investors comprehensive options for incorporating digital assets into their investment portfolios. By utilizing on-chain indicators and their knowledge of the cryptocurrency landscape, the suite is designed to yield long-term capital growth. This will be achieved through strategic investments in futures contracts for Bitcoin and Ethereum, along with the implementation of blockchain technologies. The ETFs resulting from this collaboration will be listed on the Chicago Board Options Exchange (Cboe), enhancing accessibility for investors. Next week, five distinctive products will begin trading, each with its unique investment focus. Among the offerings, investors can look forward to ETFs that include Bitcoin and Ethereum futures contracts, providing exposure to the price movements of these leading cryptocurrencies without direct ownership. Additionally, one of the products will diversify its holdings to encompass 'public equities of comp... read More



Why Ark Invest's Cathie Wood Picks Bitcoin Over Cash And Gold

    Ark Invest CEO Cathie Wood was a guest on Merryn Somerset Webb’s show ‘Merryn Talks Money’, where she discussed the macro environment and the recent happenings in the financial world. What will mainly interest the crypto community is what she had to say about the flagship cryptocurrency, Bitcoin.  “Bitcoin Hands Down” When quizzed by Merryn about which she would prefer to hold for 10 years between gold, cash, and Bitcoin, Wood replied by saying, “Bitcoin hands down.” She noted that while Bitcoin and Gold both have hedging functionalities, the latter already had its time, unlike Bitcoin, which she labeled as “new” and was just gaining steam.  While highlighting Bitcoin’s future potential and “incremental demand,” she stated that institutions were still barely involved and that the major investors of the future (the “young people,” as Wood put it) would prefer to hold Bitcoin over Gold. She also mentioned that Bitcoin has been outperforming Gold recently in terms of its hedging capabilities.   Wood’s bullishness on the foremost cryptocurrency may not come as a surprise to many, considering that her company, ARK Invest, is one of many asset managers who have applied with the US Securities and Exchange Commission (SEC) to offer a Spot Bitcoin ETF.  Interestingly, her company leads the race toward approval as the SEC is expected to make a decision (possibly approve) ... read More



Cathie Wood's Ark Invest Dumps Coinbase and GBTC Shares Amid Market Revi...

    On Oct. 23, Ark Invest reduced its crypto-related holdings, shedding 42,613 shares of Coinbase and a substantial 100,739 shares of the Grayscale Bitcoin Trust (GBTC). The move was executed amid a Bitcoin-led crypto rally that has captured the attention of investors worldwide. Ark Invest Sells Holdings According to an update from the fund manager's trading desk on Monday, Ark's Next Generation Internet ETF (ARKW) led the way by offloading 32,158 shares of Coinbase, while the Ark Fintech Innovation ETF sold 10,455 shares of the popular cryptocurrency exchange. Simultaneously, ARKW made a divestment of 100,739 GBTC shares. These transactions amounted to approximately $5.8 million in value, based on Coinbase's closing price of $77.21 and GBTC's closing price of $24.71 on Monday. Meanwhile, Ark Invest recently updated its spot Bitcoin ETF filing in response to feedback from the SEC. Presently, approximately 12 spot Bitcoin ETFs are awaiting approval by the agency. Last month, the regulatory body delayed all pending spot Bitcoin ETF applications, extending the ongoing review process by at least another month. Bitcoin's Meteoric Rise The decision to reduce holdings coincided with Bitcoin's price surge, which saw the cryptocurrency crossing the $35,000 mark. This notable increase was driven by growing optimism regarding the potential approval of spot Bitcoin exchange-traded products (ETFs). Bitcoin's value soared by 10% to reach 1-1/2 year highs on Monday, causing a ripple effect in ... read More



ARK Invest's Cathie Wood Reveals Why Bitcoin Will Reach $1.48 Million

    ARK Invest CEO Cathie Wood is no stranger to Bitcoin predictions given that the asset manager has previously said that BTC will go to $500,000 and even reach $1 million. As always, Wood remains steadfast in her Bitcoin predictions, coming out once more with an even more daring figure for the pioneer cryptocurrency. Cathie Wood Says Bitcoin To $1 Million Cathie Wood, who is the founder and CEO of ARK Invest, an investment firm with over $6 billion in assets under management (AUM) has come forward with a new price expectation for Bitcoin. The CEO had a chat with Natalie Brunell, hist of the “Coin Stories” podcast, where she made this new prediction. As Wood explains, ARK Invest’s research team’s efforts have shown that Bitcoin’s growth will be largely driven by institutional adoption. They expect the digital asset to undergo a massive rally as the next decade begins. Wood points to the adoption trend of new assets by these large institutional investors and how they often tend to allocate their portfolios. As the CEO points out, between 5% and 6% of institutional investors’ portfolios were allocated to assets such as real estate after the managers had tested the waters. Bitcoin could be seen as being in the ‘testing the waters’ phase where institutional investors are still only putting around 1% into the digital asset to see how it turns out. Then gradually, they expand their allocation until they get to that 5% to 6% range. Now, ... read More



Ark Invest Updates Spot Bitcoin ETF Filing in Response to SEC Feedback

    Ark Invest, led by Cathie Wood, has taken a significant step forward by filing an updated version of its spot Bitcoin ETF prospectus. The move is in response to recent feedback from the U.S. Securities and Exchange Commission (SEC) asking for clarifications on some concerns. Changes to Ark Invest's Spot Bitcoin ETF Prospectus Eric Balchunas, a seasoned ETF analyst at Bloomberg, was quick to highlight this update on X. ARK has just filed an updated version of its spot bitcoin ETF prospectus. The SEC emailed issuers a few wks ago with comments/qs about their S-1 that they wanted addressed so is very poss ARK has answered all that in this filing. We looking thru it now.. pic.twitter.com/AlwTt82WU0 — Eric Balchunas (@EricBalchunas) October 11, 2023 According to Balchunas, the move comes after the U.S. SEC reached out to issuers with comments and questions regarding their S-1 forms, expressing an interest in addressing specific concerns. He further stated that in its new filing, Ark Invest has possibly addressed all of the SEC's concerns. This development comes amidst continued anticipation within the crypto industry for the SEC's ultimate decision on various Bitcoin ETF proposals. Key Changes in Ark Invest's Updated Prospectus One noteworthy change in the updated prospectus revolves around the determination of the Net Asset Value (NAV). The new document now includes detailed information on how the NAV calculation does not conform to Generally Accepted Accounting Principle... read More



SEC Postpones Verdict on Ark 21shares and Global X Spot Bitcoin ETFs

    The U.S. securities regulator recently announced a delay in its verdict on the Ark 21shares Bitcoin ETF. Consequently, the U.S. Securities and Exchange Commission (SEC) has marked January 10, 2024, as the decisive day to either greenlight or reject the proposed amendment.SEC Pushes Back Decision on 2 Spot Bitcoin ETFs A statement from the U.S. securities authority highlighted its decision to push back its judgment on the Ark 21shares Bitcoin ETF, an asset-backed fund aiming for public listing. The filing for this ETF was jointly presented by Cboe BZX Exchange, 21shares, and Ark Invest on April 25, 2023. This ETF joined the ranks of several spot bitcoin ETF applications, with industry giants like Invesco, Blackrock, Fidelity, Vaneck, Valkyrie, Wisdomtree, and Franklin Templeton all in the queue. Notably, the SEC had previously postponed its decision on seven of these filings, including the Ark 21shares Bitcoin ETF, on August 31, 2023. Upon a detailed examination of the proposal and subsequent modifications, the SEC said on Tuesday that it chose to prolong the evaluation phase to guarantee a comprehensive review. “The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, as modified by Amendment No. 3, and the issues raised therein,” the SEC detailed. “I’m shocked they went this early on Ar... read More



SEC Extends Decision on ARK 21Shares and Global X Spot Bitcoin ETF Filin...

    The US Securities and Exchange Commission (SEC) has pushed its decision on two spot Bitcoin ETF applications by ARK Invest and 21Shares and Global X, with the former postponed to January 2024. Amid various calls for a spot Bitcoin ETF in the United States, there are speculations that there could be more SEC delays for similar filings from other companies, which could mean that investors and stakeholders may have to wait till next year to get such a product approved. ARK 21Shares Bitcoin ETF not Happening in 2023 In a letter published on Sept. 26, the SEC said that it is extending its decision to either reject or approve the ARK 21Shares spot Bitcoin ETF filing by another 60 days, with its final verdict on the proposal to happen on January 10, 2024. The regulator previously postponed its response on the proposed ARK 21Shares spot Bitcoin ETF on Aug. 11 to seek new public comments, giving itself until Nov. 11 — 180 days after the proposal was first published in the Federal Register for comment —  to give its verdict. The latest extension date gives the SEC a total of 240 days, the maximum time frame allowed for the regulator to either approve or deny an application. Also, the agency pushed its decision on Global X Bitcoin Trust till Nov. 21, 2023. Bloomberg ETF analyst James Seyffart noted that the SEC's extensions of its verdict on the proposals from ARK Invest and 21Shares, and Global X happened earlier than usual while speculating that the regulator's early ... read More



Ark Invest, 21shares, and Vaneck Forge Ahead With Spot Ethereum ETF Appl...

    The U.S. Securities and Exchange Commission (SEC) has temporarily postponed its ruling on seven bitcoin exchange-traded fund (ETF) applications. Meanwhile, a fresh wave of applications has emerged, with Ark Invest and 21shares, in addition to Vaneck, seeking approval for spot ethereum ETFs. These forthcoming funds, should they receive the green light, will enable investors to gain direct access to ether's price movements.Ethereum ETF Frenzy As fund managers eagerly pursue SEC approval for their spot bitcoin ETFs, this week has witnessed a dynamic twist with the introduction of two ethereum-based spot ETF applications. In the initial submission, Ark Invest and 21shares have joined forces, with the latter set to assume the role of the trust's sponsor. Notably, the ETF will entrust Coinbase Custody with the crucial responsibility of safeguarding the fund's valuable ether reserves. 'The trust will not invest in derivatives,' the Ark and 21shares' filing details. 'The sponsor believes that the shares are designed to provide investors with a cost-effective and convenient way to invest in ether without purchasing, holding and trading ether directly.' BOOM: ARK just filed for a Spot Ether ETF, the first one.. prob more coming imminent pic.twitter.com/PjK5aSNPlS - Eric Balchunas (@EricBalchunas) September 6, 2023 In a development that occurred back in June 2023, Coinbase was appointed as the surveillance-sharing agreement (SSA) partner for Ark Invest and 21shares. This strategic all... read More



Is Bitcoin A Buy Or Sell? Ark Invest Shares Market Analysis

    In its new monthly report titled 'The Bitcoin Monthly: Bitcoin Battles Resistance Around Its On-Chain Mean', Ark Invest has provided an exhaustive analysis of the current market landscape. The report categorizes its findings into bullish, neutral, and bearish perspectives, providing a holistic view of Bitcoin's current and potential future stance. Bullish Arguments For Bitcoin Grayscale Spot ETF and GBTC’s Discount To NAV: On August 29, a pivotal decision was made by a US Federal Appeals Court. They ruled that the U.S. Securities and Exchange Commission (SEC) must revisit and reconsider its earlier rejection of the Grayscale Bitcoin Trust’s (GBTC) application to transition into a spot ETF. This legal development saw GBTC’s discount to NAV shift from -24% to -18% on the same day, indicating heightened market optimism. By the end of August, GBTC was at a discount-to-NAV of -20.6%. Bitcoin’s General Cost Basis Recovery: Bitcoin's realized capitalization, which encompasses both its primary (miners) and secondary (investors) markets, is a measure of the aggregate cost basis of BTC. Between Q4 2022 and Q1 2023, the realized cap drawdown stood at -19%, marking its steepest since 2012. This drawdown serves as a barometer for capital outflows from the network. Ark's analysis suggests that the deeper the drawdown, the higher the likelihood of Bitcoin holders exiting the market, potentially setting the stage for a more robust bull market. The realized cap has imp... read More



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