Ark Invest trims Block, Bullish and its own bitcoin ETF holdings while buying Nvidia, SoFi

Cathie Wood-led investment firm Ark Invest sold additional shares of Block Block, Inc. (XYZ), Bullish Bullish (BLSH), and its own bitcoin (BTC) exchange-traded fund on Monday, while adding to its holdings in SoFi Technologies and Nvidia.

According to Ark's latest trading disclosure, it sold 68,997 shares of Jack Dorsey's Block, worth $6.1 million, and 49,767 Bullish shares, worth $1.1 million. Block's stock rose 3.6% to close at $88.56, while Bullish gained 7% to $22.80.

Ark also offloaded $1.6 million worth of shares in its own Ark 21Shares Bitcoin ETF ARK 21Shares Bitcoin ETF (ARKB). The fund, which had $2.15 billion in net assets, recorded $9.9 million in net outflows on Monday, contributing to the $201.1 million in total net outflows across U.S. spot bitcoin ETFs.

Meanwhile, the firm purchased $6.8 million worth of SoFi Technologies shares and $16.2 million worth of Nvidia shares. 

SoFi's shares closed up 3.33% at $16.75 on Monday. The fintech company reported 503,000 crypto products at the end of September, according to its latest earnings report. Its gross crypto transaction revenue rose 20% quarter over quarter to $161.6 million.

Last month, SoFi also launched SoFi Earn, an interest-bearing tokenized deposit, which it said was the first time a U.S. national bank has offered tokenized deposits to individual clients.

Nvidia fell 4.27% on Monday to $178.67 after the AI chipmaker said its board of directors is investigating CEO Jensen Huang's relationship with a woman reportedly identified by intelligence officials as a Chinese spy.

The investigation came after The New York Times reported last week that a memo, circulated among top U.S. policymakers last spring, alleged that Alice Huang, a Chinese businesswoman, was recruited by China's Ministry of State Security to gather intelligence on the Nvidia founder.

Ark regularly rebalances its ETF weightings to keep individual stock holdings below 10% of a fund's portfolio. That means it would adjust positions as asset prices fluctuate.