Ark Invest, led by Cathie Wood, has offloaded 62,615 Coinbase shares worth $15.1 million across two of its exchange-traded funds. This comes after selling $6.4 million worth of shares on Thursday, bringing the total to over $21.5 million sold last week. Ark's investment strategy aims to maintain diversification within its funds, meaning it may continue rebalancing its weightings if Coinbase's stock price continues to rise.
Ark Invest offloaded 62,615 Coinbase shares — worth $15.1 million — across two of its exchange-traded funds on Friday.
Added to the $6.4 million worth of Coinbase shares sold on Thursday, Ark Invest offloaded more than $21.5 million worth of the stock last week. According to the firm’s latest disclosures, Coinbase has dropped to the second-largest holding within its ARKK ETF with a weighting of 9.36%, behind Tesla at 9.48%. Coinbase is also the second-largest holding in ARKW, with a weighting of 9.55%, just behind Ark’s own spot Bitcoin ETF at 9.98% of the fund.
Ark Invest Cathie Wood Coinbase Shares Investment ETF Diversification Rebalancing Stock Price
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