In a most curious turn of events, Cathie Wood’s investment firm, ARK Invest, appears to be engaging in a rather theatrical dance with the United States’ latest trade tariffs. One moment, they’re offloading shares of their spot Bitcoin ETF, and the next, they’re enthusiastically increasing their stake in Coinbase. Quite the juggling act, wouldn’t you say? 🎪
Since the illustrious announcement of new trade tariffs by none other than President Trump on April 2, ARK has gallantly acquired a staggering $26.6 million worth of Coinbase (COIN) stock, as revealed by the ever-watchful CryptoMoon. One can only imagine the champagne corks popping in celebration of such a bold move!
This audacious purchase includes a rather princely $13.2 million COIN buy on April 7, following closely on the heels of another $13.3 million purchase on April 4. It seems ARK is quite taken with Coinbase, perhaps envisioning it as the belle of the ball. 💃
However, in a twist that would make even the most seasoned soap opera writer blush, ARK simultaneously decided to part ways with $12 million of its ARK 21Shares Bitcoin ETF (ARKB) on April 7. One must wonder if this was a case of “out with the old, in with the new” or simply a moment of financial whimsy. ARKB, you see, was one of the spot Bitcoin ETFs that made its grand debut in the United States back in January 2024.
ARKW still offers $142 billion of indirect exposure to Bitcoin
In a rather impressive feat, ARK’s $12 million ARKB sale from its Next Generation Internet ETF (ARKW) fund stands as one of the largest daily ARKB sales by the firm. It seems they’ve been quite busy, following this latest dump with an $8 million ARKB sale on March 3, another $8.6 million sale in February, and two smaller sales from January, totaling a modest $3.5 million. One can only hope they’re keeping track of all these transactions! 📉
Despite the flurry of sales, ARKW continues to offer indirect exposure to Bitcoin (BTC) through its ARK Bitcoin ETF Holdco, which, as of April 8, boasts a rather impressive $142 million in ARKB, accounting for 11% of the fund’s weight. Quite the financial acrobatics, if I do say so myself!
Bitcoin ETFs expand bleeding on tariffs news
These new trades emerged amidst a rather dramatic market sell-off, with BTC briefly plummeting 11% to a low of $74,700 following the tariffs announcement, according to the ever-reliable CoinGecko data. It’s enough to make one clutch their pearls!
Following a staggering $207 million in outflows from global Bitcoin exchange-traded products (ETP) last week, Bitcoin ETFs continued their rather unfortunate trend of bleeding, starting the week with fresh $109 million outflows on April 7, as reported by SoSoValue. One can only hope they have a good first aid kit on hand! 🩹
In the past three trading days, Bitcoin ETFs have shed a combined total of $273 million, according to SoSoValue. It’s a veritable bloodbath out there!
Yet, despite the recent selling pressure, ARK remains one of the few spot Bitcoin ETF issuers with net positive flows year to date. As of April 4, ARK had recorded a commendable $146 million in inflows for 2025, according to CoinShares data. Bravo, ARK! 🎉
Other issuers with positive year-to-date inflows include BlackRock’s iShares, with a staggering $3.2 billion, and ProShares, with a respectable $398 million. It seems the competition is heating up!
Read More
- OM/USD
- Carmen Baldwin: My Parents? Just Folks in Z and Y
- Solo Leveling Season 3: What You NEED to Know!
- Jellyrolls Exits Disney’s Boardwalk: Another Icon Bites the Dust?
- Despite Strong Criticism, Days Gone PS5 Is Climbing Up the PS Store Pre-Order Charts
- Jelly Roll’s 120-Lb. Weight Loss Leads to Unexpected Body Changes
- Disney’s ‘Snow White’ Bombs at Box Office, Worse Than Expected
- Solo Leveling Season 3: What Fans Are Really Speculating!
- Netflix’s Dungeons & Dragons Series: A Journey into the Forgotten Realms!
- Moo Deng’s Adorable Encounter with White Lotus Stars Will Melt Your Heart!
2025-04-08 12:59