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Ark Invest sold 44,609 shares of its ARKB Spot Bitcoin ETF for $2.8 million as part of a rebalancing strategy. The firm retains $139.7 million in ARKB, making it the second-largest holding in ARKW. US spot Bitcoin ETFs saw $4.5 million in inflows, while Ethereum ETFs faced outflows. Cathie Wood’s Ark Invest has made headlines by offloading 44,609 shares of its ARKB Spot Bitcoin ETF, valued at $2.8 million. The sale, which took place on Monday, is part of Ark’s ongoing rebalancing strategy to adjust its fund weightings. However, the move is not the first of its kind, with the firm having sold $6.9 million worth of ARKB shares in early August and $7.8 million in July. In total, Ark Invest has divested $17.5 million from its Bitcoin ETF. Ark Invest avoiding overexposure to any one asset Despite these sales, Ark Invest continues to hold a significant $139.7 million in the ARKB ETF, positioning it as the second-largest holding in its Next Generation ...

JPMorgan Chase , the largest bank in the US, has disclosed buying spot bitcoin ETFs, according to an SEC filing. JPMorgan disclosed its Bitcoin ETF holdings Friday. The bank holds shares in spot Bitcoin ETFs managed by BlackRock, Bitwise, and Fidelity as of March 31. JUST IN: Largest US bank JPMorgan Chase discloses buying spot #Bitcoin ETFs. — Watcher.Guru (@WatcherGuru) May 10, 2024 Due to these filings dating back to the end of March, JPMorgan may have even more exposure to these ETF assets. The bank’s Spot Bitcoin ETF holdings total over $1M in investments. Furthermore, the news comes as a surprise since the bank’s CEO, Jamie Dixon, has publicly doubted Bitcoin. Dixon has been widely outspoken against the digital asset since last year, however, JPMorgan Chase has been investing since the approval of Bitcoin ETFs in January 2024. Also Read: US House to Consider FIT21 Digital Assets Bill Throughout 2024, Spot Bitcoin ETFs have become a mass...

According to sources familiar with the banks, Bank of America’s Merrill Bank and Wells Fargo are now offering Bitcoin ETFs to their wealth clients. These ETFs offer clients and investors working with the banks to invest directly in Bitcoin, further showing the cryptocurrency’s growth in acceptance. JUST IN: Wells Fargo & Bank of America's Merrill begins offering #Bitcoin ETFs to clients. — Watcher.Guru (@WatcherGuru) February 29, 2024 The Banks are first offering the approved ETF products to some wealth management clients with brokerage accounts who request the products. The decision comes over a month after Spot Bitcoin ETFs were approved by the Securities and Exchange Commission. The Spot Bitcoin ETFs have been performing extremely well since launch. During this week, trading volume for all the products combined on the market exceeded $3 billion daily. Other banks are also considering adding the products to their array of offerings, most rec...

Eric Balchunas, a senior ETF analyst at Bloomberg , says that we are as close as ever to official approval of Spot Bitcoin ETFs in the US. Balchunas says that the SEC is giving their final comments to issuers on their applications, and the multiple applicants will submit their final 19b-4s and S-1s after comments. JUST IN: 🇺🇸 Spot #Bitcoin ETF approval is as close to done as we've been, Senior Bloomberg ETF analyst says. — Watcher.Guru (@WatcherGuru) January 4, 2024 It is unclear which ETF applicants will be the first to have their ETFs approved, as many issuers are looking for approval. Investment/asset managers such as Fidelity, BlackRock, and Grayscale are among the applicants for Spot Bitcoin ETFs. Furthermore, multiple applicants have begun submitting their registrations of securities with the SEC, alerting investors that the first approvals may be close. Also Read: Valkyrie Files Registration of Securities With SEC For Bitcoin ETF Is Spo...