Ark Invest Cashes Out $40 Million From Bitcoin ETF Even as BTC Pops 23% Over a Month

Cathie Wood's Ark Invest offloaded roughly $40.04 million worth of the ARK 21Shares Bitcoin ETF (ARKB) on Monday, capitalizing on a strong monthly rally. The asset manager sold 466,133 shares through the ARK Next Generation Internet ETF and an additional 1.06 million shares via the ARK Blockchain & Fintech Innovation ETF as ARKB shares settled at $26.19. The divestment comes despite Bitcoin surging 23% over the past month and ARKB advancing over 22% in the same timeframe, tracking the broader cryptocurrency rebound. However, Bitcoin's upward momentum slowed recently, with the asset trading around $77,253. The sale coincides with shifting institutional flows and legislative developments. Spot Bitcoin ETFs recently broke a three-week streak of net inflows by recording $462 million in weekly net outflows, including $52 million from BlackRock's IBIT, though the market rebounded with $160 million in fresh inflows on Monday. Furthermore, the transaction comes immediately ahead of a pivotal Senate vote on the CLARITY Act.