David Edwards
Last week, Ark Invest continued to sell off its Coinbase holdings, offloading shares worth $59 million. This included a sale of 18,962 Coinbase shares, totaling $2.8 million, on Friday alone, as per their latest trade filing. Cathie Wood’s firm reduced its holdings in several ETFs: 12,142 shares ($1.8 million) from the Innovation ETF, 2,278 shares ($337,000) from the Next Generation Internet ETF, and 4,542 shares ($672,000) from the Fintech Innovation ETF.
This sale adds to the previous disposals of $42.6 million on Wednesday, $11.5 million on Tuesday, and $1.9 million on Monday, totaling $58.8 million in Coinbase shares sold last week. This move is part of Ark’s ongoing fund rebalancing, coinciding with a significant increase in Coinbase’s stock value over the past month. The previous week, Ark also sold $100 million in Coinbase shares.
