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Ark Invest reduces Coinbase holdings worth $90.58 million, while selling Robinhood and Block positions
Summary: According to reports, Cathie Wood's investment firm Ark Invest sold a total of 218,986 shares of Coinbase stock (COIN) on Monday, with a total value of approximately $90.58 million, involving its three ETF products: ARKK sold 174,746 shares, ARKW sold 27,663 shares, and ARKF sold 16,577 shares. This reduction occurred after Coinbase's stock price hit ...
According to reports, Cathie Wood's investment firm Ark Invest sold a total of 218,986 shares of Coinbase stock (COIN) on Monday, with a total value of approximately $90.58 million, involving its three ETF products: ARKK sold 174,746 shares, ARKW sold 27,663 shares, and ARKF sold 16,577 shares. This reduction occurred after Coinbase's stock price hit a record high last Friday (over $437) when the U.S. House of Representatives passed legislation related to stablecoins and digital asset regulation. In addition, ARKW also sold 109,824 shares of Robinhood stock (worth $11.46 million), and ARKF sold 90,061 shares of Block stock (worth $7 million). Ark Invest consistently follows a strategy of not exceeding 10% of a single stock in its portfolio, hence regularly rebalancing positions based on asset price movements. (The Block)
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Link: Ark Invest reduces Coinbase holdings worth $90.58 million, while selling Robinhood and Block positions [Copy]
