Recent news highlights include notable ETF outflows, bitcoin price surges, and investor interest in ARKB and related ETFs throughout 2025 and 2026.

• Noteworthy ETF outflows including ARKB were reported in October 2026, indicating shifts in investor allocations [N1].
• Bitcoin surged above $86,000 in September 2026, drawing focus to bitcoin ETFs including ARKB [N2].
• Cathie Wood of Ark Invest highlighted a popular cryptocurrency with significant value increases in September 2026, reflecting investor interest in ARK-related digital assets [N3][N4].
• Bitcoin revival in mid-2026 renewed attention on ETFs like ARKB as investment vehicles [N5].
• Investors were advised on key considerations for ARKB in early 2026, reflecting ongoing market engagement [N6].
• Bitcoin faced a fourth annual loss heading into 2026, posing challenges for bitcoin ETFs including ARKB [N7].
• Zacks Investment Ideas featured ARKB among highlighted investment ideas in late 2025, indicating analyst attention [N8].

The ETF provides investors with direct exposure to bitcoin price movements through a regulated and transparent vehicle. Its association with ARK Investment Management and established custodians supports investor confidence. The Trust's fee structure and operational arrangements are clearly defined, and recent news indicates ongoing market interest and trading activity in bitcoin and related ETFs.

The Trust faces competition from other bitcoin ETFs and digital asset products, which may impact its market share and scale. Bitcoin price volatility and regulatory developments could affect investor demand and the Trust's performance. The Sponsor's discretion to terminate the Trust and the passive nature of the investment limit active risk management. Extraordinary expenses and market conditions could impact operations and shareholder value.

ARKB's moat lies in its established structure as a bitcoin-tracking ETF with recognized custodians and service providers, including Coinbase Custody and BitGo, and its association with ARK Investment Management LLC, a known sub-adviser and marketing agent. The Trust benefits from regulatory compliance and transparent fee arrangements. However, it faces competition from other bitcoin and digital asset ETFs and products, with no guarantee of maintaining commercial advantage or scale. The passive nature and reliance on bitcoin market pricing provide operational clarity but limit active management differentiation.

• Market and Price Volatility Risk: The Trust's value is directly tied to bitcoin price movements, which are highly volatile and subject to market fluctuations.
• Competition Risk: The Trust competes with other bitcoin and digital asset ETFs and products, which may affect its ability to maintain scale and commercial advantage.
• Regulatory Risk: Changes in regulatory environment or compliance requirements could impact the Trust's operations and investor demand.
• Sponsor Discretion and Termination Risk: The Sponsor may terminate the Trust at its sole discretion with notice, which could affect shareholders.
• Operational and Custodial Risk: The Trust relies on third-party custodians and service providers for bitcoin custody and administration, exposing it to operational risks.

• ARKB is an exchange-traded fund (ETF) that issues common shares trading on the Cboe BZX Exchange under the symbol 'ARKB'.
• The Trust's investment objective is to track the performance of bitcoin as measured by the CME CF Bitcoin Reference Rate - New York Variant, adjusted for expenses and liabilities.
• ARKB holds bitcoin and values its shares daily based on the Index price at 4:00 p.m. ET on each business day.
• The Trust is a Delaware statutory trust formed on June 22, 2021, and continuously issues shares that may be purchased and sold on the Exchange.
• Shares are created and redeemed in blocks of 5,000 shares called 'Baskets'.
• Authorized Participants, registered broker-dealers with agreements, facilitate creation and redemption of shares either in cash or in-kind bitcoin transfers.
• The Trust is passive, not actively managed, and does not trade bitcoin except for creation/redemption or to pay expenses.
• The Sponsor is ARK Investment Management LLC, acting as sub-adviser and marketing agent, and the Sponsor pays all ordinary operating expenses out of a 0.21% annual Sponsor Fee on bitcoin holdings.
• The Sponsor Fee was waived for a nine-month period starting January 11, 2024, or until the Trust's assets exceeded $1 billion, which occurred in February 2024.
• Bitcoin Custodians include Coinbase Custody Trust Company, BitGo Bank & Trust, Anchorage Digital Bank, and BitGo New York Trust Company, holding all bitcoin on behalf of the Trust.
• The Bank of New York Mellon serves as Administrator, Transfer Agent, and Cash Custodian.
• The Trust does not hold or trade commodity futures and is not registered as an investment company under the Investment Company Act of 1940.
• The Trust's net income for the quarter ended September 30, 2026, was $800,365,000 USD.
• Current assets as of December 31, 2023, were reported as $100 USD; other liquidity ratios are not disclosed.
• The Sponsor may terminate the Trust at its discretion with at least 30 days' notice to shareholders.
• The Trust's NAV is calculated daily based on the bitcoin price in the principal market or the Index price, following ASC 820 fair value measurement guidance.
• The Sponsor may convert bitcoin fees into cash at its discretion, and the Trust is not responsible for conversion costs.
• The Trust entered into an authorized participant agreement with Macquarie Capital in December 2025 allowing in-kind creation and redemption.
• Recent news highlights include notable ETF outflows, bitcoin price surges above $86,000, and investor interest in ARKB and related ETFs in 2026.
• There have been no material changes to risk factors reported in the latest quarterly filing compared to the prior annual report.