ARK Invest Exits Block and ARKB Positions, Buys $23 Million in Nvidia, SoFi

By Nathan Brooks

ARK Invest sold $6.1 million in Block shares and $1.6 million in its ARK 21Shares Bitcoin ETF (ARKB) on Monday, Nov. 9, while deploying roughly $23 million into Nvidia and SoFi Technologies stock across its funds, according to the firm's daily trade disclosure.

The ARKB sale was not an isolated move. ARK Invest had already reduced its ARKB position in an Oct. 9 round of trades, making November the second consecutive month of trimming in the firm's flagship spot Bitcoin product. ARKB held $2.15 billion in net assets at the time of the Nov. 9 transactions.

What does the rotation signal?

The sales coincided with broader stress in the spot Bitcoin ETF complex. U.S. spot Bitcoin ETFs recorded $201.1 million in combined net outflows on Nov. 9, and ARKB accounted for $9.9 million of that total — roughly 5% of the day's withdrawals spread across the entire product category.

Put differently, ARK's own Bitcoin fund lost one dollar for every twenty that left the U.S. spot Bitcoin ETF market that day. For a fund managing $2.15 billion, a $9.9 million daily outflow is a fraction of one percent of assets, but the direction matters more than the magnitude for practitioners tracking allocator sentiment.

The buy side of the ledger points elsewhere. The $23 million allocated to Nvidia and SoFi represents more than triple the value of the Block and ARKB positions ARK sold the same day.

Why SoFi fits the thesis

SoFi's third-quarter metrics explain the attraction. The company reported 503,000 crypto products as of Sept. 30, and its gross revenue from crypto trading rose 20% quarter-over-quarter to $161.6 million — $161.6 million in a single quarter, annualizing toward well over $600 million from crypto trading alone if the trajectory holds.

SoFi also launched SoFi Earn in October, an interest-bearing tokenized deposit product that extends the firm's crypto infrastructure into yield-bearing deposits. For ARK, which has long positioned itself around fintech disruption, SoFi now combines a growing trading franchise with a tokenized-deposit channel.

Market context on the day

The equity tape on Nov. 9 rewarded two of the three names involved. Block closed up 3.6% at $88.56, meaning ARK sold into strength. SoFi gained 3.33% to $16.75. Nvidia, the largest purchase, fell 4.27% to $178.67 — ARK bought the dip in a name it has traded repeatedly.

The pattern across the two crypto-adjacent sells is consistent: ARK reduced exposure to both a Bitcoin ETP and a payments company with deep Bitcoin integration, while increasing exposure to semiconductor and consumer-fintech equities.

What this changes for allocators

For practitioners, the actionable question is what a second consecutive month of ARKB reductions means for fund-level Bitcoin exposure. At $1.6 million per round, the sales are small relative to $2.15 billion in net assets — portfolio hygiene rather than an exit. But the reallocation into SoFi, a firm scaling crypto revenue at 20% per quarter, suggests ARK is expressing its crypto thesis through equity wrappers rather than spot ETF wrappers for now.

Watch the next set of daily disclosures: a third consecutive month of ARKB sales, or a reversal back into the fund, would confirm whether this is rebalancing or a durable shift in vehicle preference.