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ARK Invest Extends GitLab Sell-Off as It Adds to Spot Bitcoin ETF

The trades reflect a continuing rotation toward the firm’s spot Bitcoin fund driven by its pro‑Bitcoin outlook.

Overview

  • ARK sold 208,528 GitLab shares on November 28 for about $8.46 million, its second sizable reduction in four days.
  • The firm bought 70,125 shares of the ARK 21Shares Bitcoin ETF (ARKB) worth roughly $425,000 in the same session.
  • ARK also trimmed Iridium Communications (89,446 shares ≈ $1.47 million), Ibotta (22,281 ≈ $523,000) and Exact Sciences (918 ≈ $93,000).
  • The November 28 trades were executed across ARK Innovation (ARKK), Next Generation Internet (ARKW) and Fintech Innovation (ARKF) ETFs.
  • These moves, disclosed in required daily ETF filings, extend a late‑November pattern of reducing select equities while incrementally adding ARKB.