On November 29, ARK Invest purchased 200,275 shares of SOFI stock, allocated to its ARK Fintech Innovation ETF (ARKF). According to TradingView data, based on SOFI's closing price on November 29, the amount was worth $1.47 million, or $7.35 per share. The purchase by ARK occurred on the same day that SoFi Technologies officially announced its decision to terminate cryptocurrency services by December 19, 2023. SoFi stated that after careful consideration, we have decided to discontinue our cryptocurrency services by the end of this year and instructed its customers to transfer their holdings to the online cryptocurrency wallet Blockchain.com.

Cathie Wood's Ark Invest increased its holdings of 221,759 shares of Robinhood stock HOOD (valued at nearly $2 million based on Wednesday's closing price) through its ARK Fintech Innovation ETF (ARKF) on Wednesday (November 29), while reducing its holdings of 38,668 shares of Coinbase stock COIN (valued at over $4.9 million).

Bloomberg analyst Eric Balchunas wrote on X platform that Ark sold GBTC to balance weight. In its investment portfolio, Ark likes to sell winners (and vice versa) to maintain the required weight. Since GBTC has risen 76% since August, ARK "must" sell many shares to maintain a weight of around 9%.<br>Earlier news, since October 23, ARK Next Generation Internet ETF (ARKW) has sold more than 700,000 shares of Grayscale Bitcoin Trust Fund GBTC.

On November 27th, Cathie Wood-led ARK Invest continued to sell shares of Grayscale Bitcoin Trust (GBTC) last week, selling a total of 163,722 shares and earning about $5.02 million based on the closing price, as reported by CoinDesk. ARKW ETF sold a total of 579,077 shares in November, earning about $16.9 million based on the closing price. ARK Invest usually buys into crypto-related shares when they fall and sells them when they rise to make a profit.<br>The negative premium rate of GBTC narrowed to 8.6% on Friday, the lowest point since July 2021. Analysts attributed this improvement to Grayscale's meeting with the US Securities and Exchange Commission (SEC) to discuss converting the trust into a spot ETF.<br>

BlackRock and Ark Invest are considering launching Bitcoin ETFs using in-kind creations and redemptions, despite the SEC's recommendation to switch to a cash model. BlackRock recently met with SEC staff to explain how both models could work, and they prefer the in-kind mode. Meanwhile, Ark Invest and Cathie Wood have submitted an updated filing for a spot Bitcoin ETF, sticking with in-kind creations and redemptions despite the SEC's advice. In-kind transactions are preferred by ETF providers for their tax efficiency and to minimize the impact on the market prices of Bitcoin.

ARK Investment Management and 21Shares have become the first major applicants in the United States to disclose management fees for Bitcoin spot ETFs. According to updated documents on Monday, the Ark 21Shares Bitcoin ETF (ARBK) will charge a management fee of 0.8%. Although higher than the average fee rate of US-listed ETFs at 0.54%, the fee is lower than the maximum fee of the Bitcoin futures ETF - ProShares Bitcoin Strategy ETF at 0.95%, and much lower than the 2% charged by Grayscale GBTC.

On November 20th, Bloomberg analyst Eric Balchunas announced on his social media platform that the updated Bitcoin spot ETF application by ARK Invest has added a Sponsor Fee rate, which is 80 basis points or 0.8%. This is the first Bitcoin spot ETF to disclose its Sponsor Fee rate.

ARK Invest's holdings data shows that as of the time of writing, the ARK Invest ETF has reduced its holdings of 425,467 shares of GBTC since November, with a value of approximately $12.33 million at current prices. As of Friday's close, GBTC closed at $28.99. It is worth noting that since ARK Invest increased its holdings by 11,249 shares of GBTC on September 5, it has not increased its holdings of GBTC.

Data shows that as of the time of writing, the ARK Ark Fund has accumulated 314,088 shares of Coinbase stock (COIN) since November 13th, valued at approximately $31.11 million at current prices. As of Friday's close, COIN was trading at $99.05.

According to an interview with CNBC, Cathie Wood, CEO of ARK Invest, made a prediction that the size of the cryptocurrency ecosystem is expected to reach a staggering $25 trillion by 2030. <br>