ARK’s ETF Rebalancing Continues With $20.6 Million Coinbase Sale

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Last Updated on January 9, 2024 by Bitfinsider

On Friday, ARK Invest sold an additional $20.6 million worth of Coinbase (COIN) shares via three of its exchange-traded funds.

Cathie Wood’s investment business sold 133,823 COIN shares, which ended last week at $153.98.
ARK Invest aims for no particular stock to account for more than 10% of an ETF’s value. COIN’s price more than quadrupled in the last three months of 2023, resulting in regular sales of the crypto exchange’s shares by ARK.

Its biggest holding of Coinbase stock is the Innovation ETF (ARKK), which has more than $850 million in COIN. The new unload reduces its percentage to 10.04%, indicating that ARKK sales may be coming to a stop, despite another boost in Coinbase’s share price.

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