Crypto Blog
Cathie Wood-led Ark Invest has yet again slashed its holdings in Coinbase . The company sold 70,616 shares of Coinbase, totaling $15.1 million, spread across three of its exchange-traded funds on May 7th.
The investment firm’s decision involved selling 45,915 shares worth $9.8 million from its Innovation ETF , 17,755 shares worth $3.8 million from its Next Generation Internet ETF , and 6,946 worth $1.5 million from its Fintech Innovation ETF , as per their recent trade filing.This investment strategy seems to limit exposure to any single stock in its ETF portfolio to no more than 10%. Such an approach ensures a well-diversified portfolio.
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