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).


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