Altcoin News Daily Official TheBitTimes.com

Ark Invest dumped Coinbase (COIN) shares worth about $3.9 million from its Fintech Innovation exchange-traded fund (ARKF) on Dec. 18 amid a 10% drop in the exchange’s share price and after Chair Jerome Powell surprised markets when he said the Fed will have a cautious stance on rate cuts going forward. The sale by ARK Invest marks one of the biggest by the investment firm since it sold $2.8 million worth of COIN on Sept. 23. COIN Is ARKF’s Second-Largest Holding Recent disclosures by the Cathie Wood -led investment firm shows that COIN is ARKF’s biggest holding, with the fund’s COIN weighting standing at 9.9% as of Dec. 18.  Meanwhile, its biggest holding is in Shopify.  Cathie Wood and Ark Invest’s trade activity from 12/18 pic.twitter.com/mOgWS9zzPp — Ark Invest Daily (@ArkkDaily) December 19, 2024 Part of ARK Invest’s strategy is to not have more than 10% of a portfolio exposed to a single stock in order to maintain diversif...

Experts say Cathie Wood’s company is the first issuer to publicly disclose basis points (bps) fees for its Bitcoin ETF, signaling constructive talks with the U.S. Securities and Exchange Commission (SEC). ARK Invest and 21Shares filed an update to their joint form S-1 application with the SEC for a spot Bitcoin (BTC) ETF amid industry-wide anticipation that America’s premier securities watchdog would approve such products in the coming weeks or months. The amended ARK 21Shares Bitcoin ETF under the ticker ARKB included the fund’s bps fee stated as 80 bps, the first issuer to do so, according to Bloomberg’s Eric Balchunas. “Honestly a bit higher than I expected,” said ETF expert James Seyffart on X, speaking about the expected expense ratios for the basket of spot BTC ETFs in SEC review at press time. There’s a bunch of updates in here. Lot of new risk disclosures (which is to satisfy Corp Fin no doubt). One interesting thing is they sticking to in kind creations redemptions (albe...