ARK Invest Reduces Bitcoin Spot ETF Holdings While Increasing Solana Spot ETF Investments
According to a report by Benzinga, ARK Invest, the asset management company led by Cathie Wood, reduced its holdings in the Bitcoin spot ETF through its funds on Thursday, while simultaneously increasing its investment in the recently listed Solana spot ETF in Canada.
ARK Invest’s ARK Next Generation Internet ETF (stock code: ARKW) sold 39,575 shares of the ARK 21Shares Bitcoin ETF (ARKB), which accounts for approximately 0.25% of the fund, valued at around $3.35 million. Additionally, the ARK Fintech Innovation ETF (ARKF) and ARKW together purchased 475,000 shares of the 3iQ Solana Staking ETF (SOLQ.U), valued at approximately $4.95 million.
Reportedly, ARK Invest had already acquired 500,000 shares of the 3iQ Solana Staking ETF on Wednesday, valued at $5.2 million. According to official information, the 3iQ Solana Staking ETF focuses on holding long-term Solana positions through over-the-counter trading and aims to provide investors with “attractive staking rewards.” This ETF began trading on the Toronto Stock Exchange on Wednesday.