Ark’s latest COIN sales are the most significant since April 11, when the investment firm offloaded $20.4 million worth of the stock.
Ark Invest offloaded 70,616 Coinbase shares — worth $15.1 million — across three of its exchange-traded funds on Tuesday.
It’s the first time Ark has sold a significant amount of Coinbase shares in nearly a month after it offloaded $20.4 million worth of COIN on April 11 amid a rise in the stock's price. However, it did sell a relatively small amount of Coinbase shares from its ARKW fund on April 15, worth around $824,000.Ark’s investment strategy aims to let no individual holding take up more than 10% of an ETF’s portfolio.
ARKK’s Coinbase holdings have a market value of $547 million. ARKW’s COIN weightings are valued at $129 million at current prices, and ARKF’s $105 million. Overall, the ARKK, ARKW and ARKF funds are up around 24%, 55% and 61% over the past year, respectively.
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