Étienne Girard
Ark Invest has made a significant move by acquiring 140,000 shares of eToro, totaling approximately $9.4 million, for its Fintech Innovation ETF (ARKF). This investment came right as eToro made its public debut on the Nasdaq, trading under the ticker ETOR.
On its first trading day, eToro shares surged by 29%, closing at $67, following a strong IPO priced at $52 per share. The company had postponed its initial plans due to market instability linked to Trump-era tariffs, but returned with renewed investor confidence and an upsized offering.
Ark is known for entering positions at IPOs — just like it did with Coinbase in April 2021, when it scooped up 750,000 shares on the first day. This time, the fund is betting on eToro, a popular crypto and stock trading platform.
The current weighting of eToro within Ark’s Next Generation Internet ETF (ARKW) is 0.93%, placing it 33rd in the fund’s portfolio. For context, Shopify, Coinbase, and Robinhood remain the fund’s largest holdings, with weights of 9.9%, 9.7%, and 7.4%, respectively.
Ark Reduces Bitcoin ETF Exposure Amid Portfolio Adjustments
While buying into eToro, Ark simultaneously reduced its position in its own spot Bitcoin ETF (ARKB), offloading $7.9 million worth of shares across both ARKF and ARKW. Despite this sale, ARKB remains the top asset in the ARKW portfolio at 9.5%, worth nearly $165 million. In ARKF, it’s the fourth-largest holding, with a 6.1% allocation valued at $62 million.
ARKB has continued attracting investor interest, bringing in $5.2 million in net inflows on the same day, pushing its total cumulative inflows to $2.7 billion since its January 2024 launch. The ETF currently manages $4.9 billion in assets.
Ark Diversifies With Solana Exposure Through 3iQ ETF
In another strategic move, Ark added $7.6 million worth of 3iQ’s Solana staking ETF, which trades on the Toronto Stock Exchange. The purchase increased the ETF’s presence in both ARKF and ARKW, now representing 1% and 0.6% of the funds respectively — valued at $10.3 million and $10.6 million.
The U.S. has yet to approve a Solana ETF, but interest is growing. Bitwise, 21Shares, Grayscale, and VanEck have all filed applications with the Securities and Exchange Commission, seeking regulatory approval.
Block Inc. Shares Trimmed Amid Portfolio Rebalancing
Alongside these portfolio shifts, Ark sold 14,930 shares in Block Inc., the fintech company helmed by Jack Dorsey, for about $873,000. Block, which owns Cash App and Bitkey, closed slightly up at $58.50, according to PRIME’s data.
