ARK Invest Offloads $43.8 Million in Coinbase Shares Following Price Surge
ARK Invest sold approximately $43.8 million in shares of cryptocurrency exchange Coinbase (COIN) on Monday. This follows the sale of 270,984 COIN shares over the past three trading days, totaling nearly $95 million.
- Coinbase shares reached a record high of over $380 on June 26.
- ARK adheres to a policy where no individual holding exceeds 10% of its ETFs' total value.
- The firm sells shares when prices rise and buys them when they fall.
- ARK holds COIN in three ETFs: Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF).