Author: Shivdeep Dhaliwal

On Thursday, Cathie Wood-led Ark Invest made significant trades, most notably offloading ARK 21Shares Bitcoin ETF ARKB and pouring funds into the newly listed 3iQ Solana Staking ETF (SOLQ.U).

The ARK 21Shares Bitcoin ETF Trade

Ark Invest sold a significant number of shares in the ARK 21Shares Bitcoin ETF. The ARK Next Generation Internet ETF ARKW fund offloaded 39,575 shares, representing 0.25% of the ETF. Based on the last closing price of $84.71, the value of the trade stands at approximately $3.35 million.

This move comes amidst signs of a potential bear market in Bitcoin BTC/USD. According to data from Glassnode, Bitcoin investors are facing unprecedented pressure with the largest unrealized losses on record, concentrated among new market participants.

Even so, Bitcoin showed impressive strength this week, bouncing from $74K to $84K despite a broader U.S.-focused risk-off environment where even safe-haven assets like Treasuries and the dollar faltered. With stocks down and uncertainty high, Bitcoin’s 20% gain over six months highlights its growing appeal as an alternative asset. Over 24-hours, Bitcoin traded 0.9% higher at $84,951.

The 3iQ Solana Staking ETF Trade

Simultaneously, Ark Invest made a significant purchase of the 3iQ Solana Staking ETF (SOLQ.U). Ark Fintech Innovation ETF ARKF and ARK Next Generation Internet ETF ARKW funds collectively bought 475,000 shares. The transaction was valued at $4.95 million. SOLQ.U ended the day in Toronto at $10.43.

This move aligns with Ark’s recent interest in 3iQ Solana Staking ETF, as detailed in a Benzinga report. On Wednesday, Ark scooped up 500,000 shares of SOLQ.U worth $5.2 million.

The ETF started trading on the Toronto Stock Exchange on Wednesday, with major unitholders including SkyBridge Capital, founded and managed by Anthony Scaramucci. It focuses on long-term Solana SOL/USD holdings acquired through over-the-counter counterparties and aims to offer investors “attractive staking rewards,” according to a statement from 3iQ, which describes itself as the world’s first Digital Assets Managed Account Platform. Solana spiked 2.3% higher at $134.96 over 24 hours.

Other Key Trades:

• Ark Invest’s ARKF fund sold 4,184 shares of Intuit Inc. (INTU).
• The ARKG fund sold 1,040 shares of Repare Therapeutics Inc. (RPTX).
• ARKX bought 4,284 shares of AeroVironment Inc. (AVAV) and sold 18,832 shares of Kratos Defense and Security Solutions Inc. (KTOS).

Benzinga Edge Stock Rankings indicate ARKB has Momentum in the 92nd percentile. How do other Bitcoin ETFs compare? Find out here.

Photo Courtesy: Ira Lichi on Shutterstock.com

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

On Wednesday, Cathie Wood-led Ark Invest made significant trades, notably acquiring shares in Robinhood Markets Inc. HOOD, ARK 21Shares Bitcoin ETF ARKB, and 3iQ Solana Staking ETF.

The Robinhood Trade

Ark Invest’s flagship fund, ARK Innovation ETF ARKK, purchased 60,266 shares of Robinhood Markets Inc. on Wednesday. The trade, valued at approximately $2.45 million, was made as Robinhood’s stock faced a sharp decline. The stock closed at $40.66, down 7.76% on Wednesday following Powell’s remarks about inflation and trade tariffs, which spooked the market. Robinhood, heavily reliant on retail trading, is particularly sensitive to such market volatility. Robinhood’s user base, largely consisting of retail investors, may reduce trading activity in uncertain environments, adding pressure on the company’s performance.

The ARK 21Shares Bitcoin ETF Trade

In another notable move,  ARK Next Generation Internet ETF ARKW fund sold 31,817 shares of the ARK 21Shares Bitcoin ETF. The ETF closed at $84.15, marking a slight increase of 0.38%. This trade, worth $2.7 million, comes as Bitcoin ETFs are showing signs of recovery after a challenging period. According to recent reports, Bitcoin ETFs recorded $76.4 million in net inflows, signaling a rebound after significant outflows. Over 24 hours, Bitcoin BTC/USD traded nearly 1% higher at $84,350.98.

The 3iQ Solana Staking ETF Trade

Ark Invest also made a significant purchase of 500,000 shares of the 3iQ Solana Staking ETF across its Ark Fintech Innovation ETF ARKF and ARKW funds. SOLQ.U closed at $10.34 on Wednesday, making the Ark transaction worth $5.2 million. The ETF began trading on the Toronto Stock Exchange on Wednesday, with its largest unitholders including Anthony Scaramucci founded and managed SkyBridge Capital. It invests in long-term holdings of Solana SOL/USD, which are bought from over-the-counter counterparties and aims to give investors “attractive staking rewards, according to a statement released by 3iQ, which calls itself the world’s first Digital Assets Managed Account Platform. Over a 24-hour period, Solana shot up over 5% to $132.08.

Other Key Trades:

• Sold 234,788 shares of UiPath Inc from the ARKF fund.
• Sold 9,610 shares of Repare Therapeutics Inc from the ARKG fund.
• Sold 88 shares of Prime Medicine Inc from the ARKK fund.

Benzinga Edge Stock Rankings show Robinhood Momentum in the 98th percentile and Growth in the 92nd percentile. Want to know how Interactive Brokers stacks up? Click here and find out.

Photo Courtesy: viewimage on Shutterstock.com

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal