Ark Invest Sells $7.76M ARKB Spot Bitcoin ETF as MARA Acquires $100M in BTC

• Ark Invest divests $7.76 million worth of ARKB spot Bitcoin ETF shares on Wednesday.
• Arc selling ARKB shares for the first time since the ETF’s launch in January.
• Marathon Digital Holdings (MARA) purchases $100 million in Bitcoin, pushing reserves past 20,000 BTC.

Explore the latest developments in the crypto market as Ark Invest adjusts its portfolio and MARA doubles down on its Bitcoin holdings.

Ark Invest Sells $7.76 Million in ARKB Spot Bitcoin ETF Shares

Investment management company Ark Invest announced the sale of 118,209 shares of its ARKB spot Bitcoin ETF, worth approximately $7.76 million. This move marks the company’s first divestment from the ARKB spot Bitcoin ETF since its introduction in January. Ark Invest, led by Cathie Wood, remains under close scrutiny due to its significant investments in Bitcoin.

Strategic Portfolio Rebalancing

Ark’s investment approach aims to prevent any single holding from exceeding 10% of the ETF portfolio. As part of their strategy to maintain diversity, Ark adjusts its portfolio based on the performance of its assets. As of July 24th, ARKB represented the largest holding in the ARKW ETF, with a 10.98% weight, surpassing other substantial holdings such as Tesla, Roku, and Coinbase.

MARA Increases Bitcoin Reserves with $100 Million Purchase

Marathon Digital Holdings, recently rebranded from Marathon Digital, has announced the acquisition of an additional $100 million worth of Bitcoin. This latest purchase boosts MARA’s Bitcoin holdings to over 20,000 BTC, accounting for approximately 0.1% of Bitcoin’s total supply.

Adopting a Full “HODL” Strategy

MARA’s Chief Financial Officer, Salman Khan, mentioned that the acquisition strategy aims to capitalize on favorable market conditions. Emphasizing a long-term commitment, MARA’s CEO Fred Thiel remarked, “Our full HODL strategy showcases our confidence in Bitcoin’s long-term value. We believe Bitcoin is the world’s premier treasury reserve asset and support the notion of sovereign wealth funds holding it. We also encourage governments and companies to hold Bitcoin as a reserve asset.”

Optimistic Market Strategy

According to a report by Bernstein analysts, MARA’s Bitcoin sales as a percentage of production dropped from 56% in 2023 to 31% in 2024. Khan commented on the strategy, stating, “Given the increasing institutional support and improving macroeconomic environment, we have returned to our HODL strategy and are focusing on increasing the Bitcoin held on our balance sheet. The recent decline in Bitcoin prices provided an opportunity to strengthen our holdings, leveraging our balance sheet’s robustness.”

Conclusion

Ark Invest’s sale of ARKB shares and MARA’s substantial Bitcoin purchase highlight the dynamic strategies employed by key players in the crypto market. While Ark aims to balance and diversify its investment portfolio, MARA’s unwavering confidence in Bitcoin’s future leads to a reinforced HODL strategy. These moves reflect the ongoing adaptation and strategic planning crucial in navigating the volatile crypto landscape.