ARK Invest Sells Off $149 Million in Coinbase Stock Amid Bitcoin Rally

• ARK Invest sold over $149 million worth of Coinbase stock last week, its largest sell-off since February

• The sales came from 3 ARK ETFs ARKK, ARKW, and ARKF

• Coinbase shares have risen 80% over the past month amid bitcoin's price rally

• ARK aims to keep Coinbase below 10% of an ETF’s holdings, necessitating sells when price surges

• Further Coinbase sales by ARK are likely given its still-high weighting and bitcoin hitting new highs