1-7-2025 – Ark Invest, led by Cathie Wood, sold $44 million worth of Coinbase Global Inc. shares on Monday, as the stock traded near its all-time high, first reported by The Block. The sale involved 125,629 shares across three exchange-traded funds: 80,063 shares from the ARK Innovation ETF (ARKK), 17,263 from the Next Generation Internet ETF (ARKW), and 28,303 from the Fintech Innovation ETF (ARKF). This move aligns with Ark’s strategy to maintain diversification by keeping individual holdings below 10% of a fund’s portfolio.
Coinbase’s stock closed at $350.49 on Monday, down 0.83% but near its record high of $375.07 set last Thursday. The sale follows Ark’s pattern of trimming Coinbase holdings during price surges, with the firm offloading $12.5 million in shares just days earlier on June 26. Despite these sales, Coinbase remains a significant holding in Ark’s ETFs, with ARKK’s Coinbase position valued at approximately $696 million. The crypto exchange’s stock has risen 51% year-to-date, driven by a favorable U.S. regulatory landscape and strong market performance.
Ark’s rebalancing reflects a broader trend of capitalizing on Coinbase’s rally while diversifying into other assets. The firm has also recently adjusted its stakes in Circle and Robinhood, indicating active portfolio management amid volatile crypto markets.
Investors will be watching Coinbase’s stock performance and Ark’s next moves as the crypto market navigates regulatory developments and potential macroeconomic shifts.
