Business Markets News Report
December 11, 2023

ARK Invest Liquidates Major Chunk of Coinbase Holdings Worth $49.2M

In Brief

Cathie Wood’s ARK Invest sold 335,860 Coinbase (COIN) shares worth $49.2 million, executing its largest sale since July.

ARK Invest Divests Major Coinbase Holdings Amidst Market Rally

Cathie Wood’s ARK Invest made a significant move by selling 335,860 shares of cryptocurrency exchange Coinbase (COIN) on Friday, marking its largest divestment since July.

This strategic sale was distributed across three of its exchange-traded funds (ETFs), with the majority stemming from the Innovation ETF (ARKK). At Coinbase’s closing price, the sale would have generated approximately $49.2 million.

Based in St. Petersburg, FL, ARK Invest has been following a consistent pattern of selling Coinbase stock in recent weeks. This trend coincides with the appreciation of the exchange’s shares, which have been climbing alongside Bitcoin’s rally. Friday’s sale outpaced the July transaction, where ARK sold 480,000 shares valued at $50.5 million at that time.

ARK Invest adheres to a targeted weighting strategy for its ETFs, ensuring that individual holdings maintain a balance between 2% and 10% of the fund’s total value.

ARK Invest Balances ETFs Holdings, Maintaining Target Weightings

The recent surge in COIN stock, reaching its highest since April 2022, resulted in its weighting in the three ETFs exceeding the 10% threshold. Despite the recent sales, COIN still represents a significant portion of ARK’s portfolio, accounting for over 11% of ARKK and the Next Generation ETF (ARKW), and more than 13% of the Fintech Innovation ETF (ARKF).

COIN’s closing price on Friday was $146.62, marking a 7.66% increase on the day. Alongside the Coinbase shares, ARK also sold 102,672 shares in the Grayscale Bitcoin Trust (GBTC), valued at around $3.6 million. GBTC currently constitutes 8.33% of ARKW, indicating ARK’s continued investment in cryptocurrency-related assets.

This series of sales by ARK Invest highlights its active management strategy, leveraging market trends and maintaining balanced exposure within its ETFs. The move also reflects the firm’s responsiveness to shifts in the cryptocurrency market and its impact on related stocks.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

More articles
Nik Asti
Nik Asti

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Hot Stories
Join Our Newsletter.
Latest News

The Calm Before The Solana Storm: What Charts, Whales, And On-Chain Signals Are Saying Now

Solana has demonstrated strong performance, driven by increasing adoption, institutional interest, and key partnerships, while facing potential ...

Know More

Crypto In April 2025: Key Trends, Shifts, And What Comes Next

In April 2025, the crypto space focused on strengthening core infrastructure, with Ethereum preparing for the Pectra ...

Know More
Read More
Read more
MAS Clarifies Regulatory Regime For Digital Token Service Providers, Addressing Industry Concerns
Business News Report Technology
MAS Clarifies Regulatory Regime For Digital Token Service Providers, Addressing Industry Concerns
June 6, 2025
Anthropic Unveils Claude Gov: Specialized AI Models Developed For US National Security Use
News Report Technology
Anthropic Unveils Claude Gov: Specialized AI Models Developed For US National Security Use
June 6, 2025
EigenLayer Rolls Out Redistribution Feature, Allowing AVSs To Repurpose And Distribute Slashed Funds
News Report Technology
EigenLayer Rolls Out Redistribution Feature, Allowing AVSs To Repurpose And Distribute Slashed Funds
June 6, 2025
First Week Of June:  Binance Academy And Solana Spark Global Blockchain Growth
News Report Technology
First Week Of June:  Binance Academy And Solana Spark Global Blockchain Growth
June 6, 2025