On this page of Benford's Law Stocks.com we present our study of ARK 21Shares Bitcoin ETF — ticker symbol ARKB. SEC filings have been screened by our Benford's Law software, for quarterly 10Q and annual 10K filings from 3/26/2024 to 11/14/2025 for ARK 21Shares Bitcoin ETF under CIK number 0001869699. For filings made in XBRL (eXtensible Business Reporting Language) format, our algorithm extracts all "tagged" numbers presented by the company; for any non-XBRL filings our algorithm uses its own interal set of rules to extract what it believes to be numbers as found throughout the filings. The format found for each filing is presented below together with the results for ARKB, with the percentage of found numbers beginning with each digit (1's, 2's, 3's, 4's, 5's, 6's, 7's, 8's, and 9's) charted against the "normal" range observed throughout our coverage universe, as well as the "normal" range for ARK 21Shares Bitcoin ETF based on the past ARKB filings our system processed in the past.
29.8
16.3
10.3
19.0
13.1
3.6
5.2
1.2
1.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
XBRL?   [ original filing ]
Total numbers found: 252
Recent share count: NA

= Typical range across full coverage universe
Benford's Law Stocks Indicator
252
Low count compared to other filers, falling in the bottom quartile. At this number count, it would take about 3 numbers to move any given column by a full percentage point.
43

Starting from a possible score of 100, we made the following score deductions:
 • The 4's percentage was higher than the 3's percentage, increasing the penalty multiplier.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 4's percentage was above the typical coverage universe range.
 • We deducted points upon observing the 5's percentage was above the typical coverage universe range.
 • We deducted points upon observing the 6's percentage was below the typical coverage universe range.
 • The 7's percentage was higher than the 6's percentage, increasing the penalty multiplier.
 • This is the 2nd column with percentage higher than the prior column, resulting in a penalty deduction.
 • We deducted points upon observing the 8's percentage was below the typical coverage universe range.
 • We deducted points upon observing the 8's percentage was below the company's typical historical range.
 • The 9's percentage was higher than the 8's percentage, increasing the penalty multiplier.
 • This is the 3rd column with percentage higher than the prior column, resulting in a penalty deduction.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 9's percentage was below the typical coverage universe range.
Benford's Law Stocks Indicator
ARKB
Low score compared to other filers, falling in the bottom quartile.
HFUS
UNL
BKHAU
LOGC
BOOT
TRNS
CARM
BNET
Check our work! We provide our ARK 21Shares Bitcoin ETF Benford's Law analysis for informational purposes only, and our software should be expected to make mistakes and contain errors (nothing you see on this website should be relied upon for any decision-making without first repeating the analysis yourself independently), and so below we present to you all of the numbers our system detected, for the ARKB filing above. This way, you can open the filing on your own and compare what you see below against what you yourself find. This can also be helpful for exploring any columns in particular that caught your eye.

1's 2's 3's
We found 75 numbers that start with the digit 1. Here they are:
125,510,000
11,227
105,806
105,806
11,229
124
105,930
11,587
1,891,649
134,040,000
140,070,000
124
100.00
100.00
1,509
1,509
1,509
1,509
1,795
1,117,653
188,372
136,721
184,085
1
1,569,425
1,099,446
1,828,519
1,566,520
1,509
1,795
1,117,653
188,372
136,721
184,085
144,640,000
150,670,000
13,605,000
151,754,994
100
10,000
10
1,795
1,117,653
184,085
1,569,089
188,372
13,824.6378
1,569,376
16,019.3563
1,831,319
136,721
17,614.9735
1,099,439
13,106.1031
1
1
123,500
193,176
100,000
144,640,000
150,670,000
13,605,000
151,754,994
1,569,425
1,099,446
1,828,519
1,566,520
187,133
105,806
11,227
16.67
1.0000
1.0000
1.0001
1.0001
We found 41 numbers that start with the digit 2. Here they are:
2,273,506
2,460,639
2,819,428
2,773
2,773
2,773
2,773
296,403
2,849,575
2,773
296,403
226,875,000
25,039.4041
20.8163
296,403
2,850,345
21
21
226,875,000
259,094
2,724,602
20.63
2.21
2.19
21.13
21.13
2.42
22.30
26.76
21
21
21
21
21
21
21
21
21
21
21
21
We found 26 numbers that start with the digit 3. Here they are:
3,077,870
358
38.00
31.07
3,077,870
3,077,870
360
3,785
3,785
3,692
3,692
320,440
317,667
3,692
3,206,095
3,206,095
39,300,000
3,207,170
3,207,170
3,784,619
39,300,000
310,423
35.81
31.07
38.00
38.00
4's 5's 6's
We found 48 numbers that start with the digit 4. Here they are:
4,002,365
4,352,648
4,363,875
4,352,288
4,352,288
44,528.1082
4,002,365
44,528.1082
4,002,365
46,607.1028
4,352,648
46,607.1028
4,352,648
4,352,288
410
456,495
47,606
485,185
46,097
481,493
4,352,288
4,859,069
4,291,122
410
456,495
41,605,000
48,135,000
46.88
468,806.44
4,352,648
4,352,648
46,607.1028
4,352,648
48,089.8886
4,859,001
44,528.1082
4,291,074
410
46,722.8267
456,495
44,528.1082
46,025.7971
41,605,000
48,135,000
4,859,069
4,291,122
4.49
4.46
We found 33 numbers that start with the digit 5. Here they are:
5,093,058
5,198,864
5,092,934
5,092,934
5,093,058
5,093,058
5,092,934
53,132
5,609
5,034,361
5,046,202
53,132
5,609
5,092,934
5,092,934
52,905,000
50.00
5,093,058
5,093,058
50,168.8832
5,053,954
5,093,058
50,534.6675
5,034,561
5,093,058
53,132
5,609
50,534.6675
5,000
52,905,000
5,046,202
51
50
We found 9 numbers that start with the digit 6. Here they are:
666
666
6,530,000
6,030,000
666
6,530,000
6,030,000
6.93
6.12
7's 8's 9's
We found 13 numbers that start with the digit 7. Here they are:
7,584
7,584
7,584
7,584
789,023
7,584
75,120,006
75,594.8879
790,220
7,583,835
75,120,006
789,023
7.02
We found 3 numbers that start with the digit 8. Here they are:
83
83
83
We found 4 numbers that start with the digit 9. Here they are:
93
935,363
927,779
93,111
While the above ARKB 10Q Filed 11/14/2025 is interesting in isolation, we have found that it is also useful to take a look at older ARK 21Shares Bitcoin ETF filings processed by our Benford's Law Stocks algorithm, to see how the company's filings "typically look" on a Benford's Law analysis. Below we repeat the 10Q Filed 11/14/2025 but instead of the chart comparing against the typical company across our coverage universe, below we show the same chart compared against the typical ARKB 10Q and 10K filings that we have processed historically. This is followed by similar charts for each of those historical filings.

29.8
16.3
10.3
19.0
13.1
3.6
5.2
1.2
1.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 43
XBRL?   [ original filing ]
Total numbers found: 252

= Typical ARKB range from 3/26/2024 to 11/14/2025
23.9
12.7
6.7
22.4
14.9
4.5
0.7
7.5
6.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 16
XBRL?   [ original filing ]
Total numbers found: 134

= Typical ARKB range from 3/26/2024 to 11/14/2025
16.2
20.3
14.9
17.6
5.4
6.8
6.8
10.8
1.4
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 9
XBRL?   [ original filing ]
Total numbers found: 74

= Typical ARKB range from 3/26/2024 to 11/14/2025
25.8
18.3
19.0
17.1
10.3
2.0
3.2
3.2
1.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 55
XBRL?   [ original filing ]
Total numbers found: 252

= Typical ARKB range from 3/26/2024 to 11/14/2025
27.1
19.5
15.3
12.7
12.7
3.4
4.2
1.7
3.4
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 75
XBRL?   [ original filing ]
Total numbers found: 118

= Typical ARKB range from 3/26/2024 to 11/14/2025
16.9
15.1
9.7
10.7
10.7
8.7
8.9
9.3
10.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 0
XBRL?   [ original filing ]
Total numbers found: 24,807

= Typical ARKB range from 3/26/2024 to 11/14/2025
24.2
14.9
16.8
21.7
3.7
3.1
3.7
5.6
6.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 8
XBRL?   [ original filing ]
Total numbers found: 161

= Typical ARKB range from 3/26/2024 to 11/14/2025
26.2
27.9
9.8
14.8
7.4
2.5
6.6
3.3
1.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 44
XBRL?   [ original filing ]
Total numbers found: 122

= Typical ARKB range from 3/26/2024 to 11/14/2025
 

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