Posted 1/8/2024, 9:06:00 AM
ARK Invest Sells $20 Million in Coinbase Stock to Rebalance ETFs
- ARK Invest sold $20.6M more Coinbase (COIN) shares across 3 ETFs on Friday
- In total, 133,823 COIN shares were sold to keep individual stock weightings under 10%
- COIN more than doubled in price last 3 months of 2023, triggering consistent selling
- ARKK holds over $850M in COIN, with weighting now at 10.04% after latest sale
- ARKW and ARKF still hold more COIN shares, with higher weightings of 10.37% and 13.41%