ARK Invest Sold $95M of Coinbase Shares After COIN's Surge to Record Highs
2025-07-01 09:16:09
Main Idea
ARK Invest sold $95 million worth of Coinbase shares after the stock surged to a record high of over $380 on June 26, 2025.
Key Points
1. ARK Invest offloaded nearly $43.8 million worth of Coinbase (COIN) shares on Monday, July 1, 2025.
2. The sale was part of a larger divestment totaling 270,984 COIN shares over three trading days, worth just under $95 million based on Monday's closing price of $350.49.
3. Coinbase shares reached a record high of over $380 on June 26, prompting ARK to sell.
4. ARK Invest holds COIN in three of its ETFs: Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF).
5. The sales align with ARK's strategy of rebalancing ETFs to ensure no single holding exceeds 10% of total value.
Description
ARK Invest offloaded nearly $43.8 million worth of shares of cryptocurrency exchange Coinbase (COIN) on Monday. The sale follows similar moves last week for a total of 270,984 COIN shares offloaded in the last three trading days, worth just under $95 million based on Monday's closing price of $350.49 . Coinbase shares surged to a record high of over $380 on June 26, which necessitated the sales from ARK. Cathie Wood's investment managing firm has a target weighing of its exchange-traded funds (E...
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