Bloomberg Analyst: ARK Invest Bitcoin Spot ETF Sponsor Fee Rate is 80 basis points
On November 20th, Bloomberg analyst Eric Balchunas announced on his social media platform that the updated Bitcoin spot ETF application by ARK Invest has added a Sponsor Fee rate, which is 80 basis points or 0.8%. This is the first Bitcoin spot ETF to disclose its Sponsor Fee rate.
ARK Fund has reduced its GBTC holdings by a total of US$12.33 million since November.
ARK Invest's holdings data shows that as of the time of writing, the ARK Invest ETF has reduced its holdings of 425,467 shares of GBTC since November, with a value of approximately $12.33 million at current prices. As of Friday's close, GBTC closed at $28.99. It is worth noting that since ARK Invest increased its holdings by 11,249 shares of GBTC on September 5, it has not increased its holdings of GBTC.
ARK Fund has increased its holdings of Coinbase shares by more than $30 million since last week
Data shows that as of the time of writing, the ARK Ark Fund has accumulated 314,088 shares of Coinbase stock (COIN) since November 13th, valued at approximately $31.11 million at current prices. As of Friday's close, COIN was trading at $99.05.
Cathie Wood: Cryptocurrency will reach $25 trillion by 2030
According to an interview with CNBC, Cathie Wood, CEO of ARK Invest, made a prediction that the size of the cryptocurrency ecosystem is expected to reach a staggering $25 trillion by 2030. <br>
ARK Invest sold $6 million worth of GBTC last Friday
On November 13th, CoinDesk reported that ARK Invest's Internet ETF (ARKW) sold 201,047 shares of GBTC stock last Friday, worth approximately $6.03 million.As of now, GBTC is still ARKW's largest holding, with a weight of 9.97% and a value of approximately $132 million.
ARK Invest adds 1,141,046 Robinhood shares worth $9.54 million
ARK Invest has significantly increased its holdings in Robinhood (HOOD) stock. Just the day before, the trading platform announced plans to expand in Europe.
ARKK, ARKW, and ARKF purchased a total of 1,141,046 shares of HOOD. Based on Wednesday's closing price of $8.36, the total value of the transaction was $9.54 million. (CoinDesk)
Yesterday, Robinhood stated in its Q3 earnings report that "with an experienced team, we will soon be launching brokerage operations in the UK. As another step in global expansion, we also plan to launch cryptocurrency trading in the UK and then in the EU."
After the SEC's lawsuit against Binance this year, Robinhood removed all crypto assets deemed securities by the SEC. According to financial report data, the platform's Q3 revenue related to cryptocurrency decreased by 55% compared to the same period last year, recording $23 million.
Ark Invest Sells Grayscale Trust Shares and Buys Block Shares Worth $5.6 Million
Ark Invest, the second-largest holder of Grayscale Trust (GBTC) shares, has sold off $3.8 million worth of GBTC shares and bought $5.6 million in Block shares. This is the second time Ark Invest has sold Grayscale shares in recent weeks, after offloading almost $5.8 million in Coinbase and GBTC shares on October 24. Block is a Bitcoin-focused payments company founded by ex-Twitter CEO Jack Dorsey, and last week reported better-than-expected Q3 earnings. Ark Invest is among the high-profile investment firms awaiting approval from the Securities and Exchange Commission for a spot Bitcoin exchange-traded fund (ETF).
ARK Fund increased its holdings of Coinbase shares by a total of $12.83 million in November
According to data, ARK Invest's Ark Fintech Innovation ETF has accumulated 149,547 shares of Coinbase (COIN) since November 1, with a current value of approximately $12.83 million. As of Friday's close, COIN was trading at $85.80.
ARK Fund reduced its Coinbase holdings by approximately $5.39 million last week
Data shows that ARK Invest's Ark Fintech Innovation ETF sold 76,141 shares of Coinbase (COIN) last week, valued at approximately $5.39 million at current prices. As of Friday's close, COIN was trading at $70.78.
ARK files version 4 amendment to its spot ETF19b-4 filing
Eric Balchunas, an ETF analyst at Bloomberg, wrote that ARK has just submitted the 4th revised version of its 19b-4 file for its spot ETF, apparently to include changes made to its S-1 (aimed at responding to feedback from the SEC). The analyst said that the purpose of this document is only to keep the two documents consistent (the first issuer to do so), without any other substantive content.
