ARK Invest Offloads $95 Million in Coinbase Stock Following COIN’s Record-Breaking Rally

ARK Invest Trims Coinbase Position After Stock Hits Record High

Shares of Coinbase surged past $380 on June 26, prompting ARK Invest to reduce its holdings in the cryptocurrency exchange.

On Monday, ARK sold approximately $43.8 million worth of Coinbase (COIN) shares. This latest sale follows similar transactions last week, bringing the total number of COIN shares sold over the past three trading sessions to 270,984 — valued at just under $95 million based on Monday’s closing price of $350.49.

The sharp rally in Coinbase’s stock price led ARK Invest to rebalance its portfolios. Cathie Wood’s investment firm maintains strict allocation limits in its exchange-traded funds (ETFs), ensuring no single stock exceeds 10% of any fund’s total assets.

As a result, ARK frequently sells portions of its holdings when share prices climb significantly and buys back positions during market dips.

Currently, ARK holds Coinbase shares across three of its ETFs: the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF).


  • Related Posts

    XRP Leads the Market With an 89% Annual Gain as BTC, ETH, and CD20 Deliver Subdued 12-Month Returns

    Despite recent declines, XRP remains one of the strongest performers in the crypto market, boasting an 89% gain over the past 365 days. The latest market downturn has pushed bitcoin…

    Continue reading
    SGX Derivatives Launches Bitcoin and Ether Perpetual Futures Based on iEdge CoinDesk Crypto Indices

    Singapore Exchange’s derivatives division is preparing to offer institutions access to one of crypto’s most heavily traded products: perpetual futures. On Monday, SGX Derivatives announced it will launch bitcoin (BTC)…

    Continue reading