- Cathie Wood’s Ark Invest sold over 1.5 million shares of its own ARK 21Shares Bitcoin ETF (ARKB) on Monday.
- The sell-off spanned nearly all crypto-linked holdings, including Coinbase, Circle, and BitMine, ahead of the CLARITY Act vote in the Senate.
- Bitcoin’s price fell below $77,000 on Tuesday as retail sentiment on Stocktwits remained in ‘extremely bearish’ territory.
Cathie Wood’s ARK Invest executed one of its broadest crypto-adjacent selling days this year on Monday, trimming nearly every cryptocurrency-linked holding in its portfolio. The most significant moves involved the firm’s own ARK 21Shares Bitcoin ETF (ARKB), with over one million shares sold through the ARK Next Generation Internet ETF (ARKW) and another 466,133 shares through the ARK Fintech Innovation ETF (ARKF).
Consequently, the combined sales represented more than 1.5% of the respective fund positions. The sell-off came just ahead of the CLARITY Act vote in the Senate on Tuesday, a regulatory event that weighed on market sentiment.
Meanwhile, Bitcoin’s price fell below $77,000 on Tuesday morning, down 1.2% in the last 24 hours. On Stocktwits, retail sentiment around the apex cryptocurrency remained in ‘extremely bearish’ territory over the past day.
The Bitcoin ETF sales were accompanied by reductions in nearly every crypto-related stock held by ARK. In the ARK Innovation ETF (ARKK), the firm sold shares of Bullish (BLSH), BitMine Immersion Technologies (BMNR), Coinbase (COIN), and Circle Internet Group (CRCL). Circle accounted for the largest dollar-weighted crypto sale in ARKK, with ARK selling 113,369 shares.
On Stocktwits, retail sentiment around Bullish trended in the ‘neutral’ zone, while sentiment around Circle improved to ‘bearish’ from ‘extremely bearish.’ Sentiment around Coinbase and BitMine remained in the ‘bearish’ zone.
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