- Ark Invest has purchased 500,000 shares of the 3iQ Solana ETF for $5.2 million.
- The firm reduced its Bitcoin ETF holdings by 31,817 shares, worth $2.7 million.
- Growing interest in blockchain diversification is reflected in Ark’s relocation to Solana.
Ark Invest, led by Cathie Wood, has recently made notable changes to its investment portfolio. The firm bought 60,266 shares of Robinhood, sold 31,817 shares of its Bitcoin ETF, and acquired 500,000 shares of the 3iQ Solana Staking ETF (SOLQ.U), totalling $5.2 million. This shift reflects Ark’s continued strategy to diversify its cryptocurrency and equity exposure.
Ark’s Move into Solana via 3iQ ETF
Ark Invest’s strategic acquisition of 500,000 shares of the 3iQ Solana ETF marks a move into the Solana ecosystem. The shares were acquired through two of Ark’s funds: the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF). The 3iQ Solana ETF, which was launched in Canada, began trading on April 16. Notably, it is the first Solana-specific ETF available in North America, allowing investors to gain exposure to Solana while receiving staking rewards.
Further, the investment represents a clear shift toward blockchain diversification beyond the well-established assets like Bitcoin and Ethereum, reflecting Ark’s confidence in Solana’s expanding ecosystem, including its growing developer community and decentralized applications.
Related: ARK Invest Purchases $13.3M in Coinbase Shares During Slump
Reduction in Bitcoin ETF Holdings
While increasing its Solana stake, Ark reduced its position in Bitcoin. The firm sold 31,817 shares of the ARK 21Shares Bitcoin ETF (ARKB), valued at around $2.7 million. This sale comes during a period of Bitcoin’s recovery, with the price hovering below $84,400. Despite this reduction, Ark’s Bitcoin ETF remains one of the largest in the market, with a total holding of $3.9 billion.
Source: Ark Holdings (Robinhood)
The sale of Bitcoin ETF shares may reflect a tactical rebalancing within Ark’s portfolio. By moving funds from Bitcoin to Solana and Robinhood, Ark has positioned itself for future growth in emerging blockchain technologies. This approach signals Ark’s commitment to adapting to market shifts while maintaining a diversified portfolio of digital assets.
Strategic Rebalancing and Portfolio Diversification
With strategic adjustments, Ark illustrates a broader trend toward diversification and flexibility in its portfolio management. While Bitcoin remains a significant component, Ark’s increasing investments in Solana and Robinhood underscore a commitment to exploring promising sectors. While Robinhood boosts its platform for retail investors, aligning with Ark’s focus on fintech, Solana highlights the firm’s willingness to engage with high-growth blockchain projects.
