Ark Invest has sold 74,291 Coinbase shares, valued at $20.8 million, across three exchange-traded funds, per their latest trade filing on Monday.
This sale comes following the firm’s sale of over $100 million worth of Coinbase shares last week when the price of COIN reached new yearly highs.
Ark Invest Sells Coinbase Shares
Ark Invest has sold shares from its ETFs: 57,652 from Innovation ETF (ARKK) worth $16.1M, 12,544 from Next Generation Internet ETF (ARKW) worth $3.5M, and 4,095 from Fintech Innovation ETF (ARKF) worth $1.2M.
Ark aims to keep any single holding below 10% of an ETF’s portfolio for diversification, meaning it might keep rebalancing funds if Coinbase’s stock rises.
Coinbase is currently the largest holding in ARKK, ARKW, and ARKF ETFs, weighing 10.6%, 10.9%, and 12.7%, respectively. The market value of ARKK’s Coinbase holdings stands at $826.6 million, with ARKW and ARKF’s Coinbase investments valued at $188.9 million and $147.9 million. Over the past year, A
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