ARK Invest continues Coinbase sell-off, surpassing $200m in December sales
ARK Invest, headed by Cathie Wood, offloaded an additional 80,118 shares of Coinbase, valued at $13.5 million, from two of its investment funds, coinciding with the stock’s ongoing surge in December. On Dec. 21, ARK Invest sold 68,769 Coinbase shares valued at $11.6 million from its Innovation ETF and 11,349 shares worth $1.9 million from its Next Generation Internet ETF. Cathie Wood and Ark Invest's trade activity from today 12/21 pic.twitter.com/zernEuT1C2 — Ark Invest Daily (@ArkkDaily) December 22, 2023 With the recent sale of $30 million in Coinbase shares earlier this week, combined with the $108 million and $59 million worth of shares sold in the first and second weeks of December, Ark Invest’s total divestment from Coinbase this month has now reached approximately $210.5 million. This strategy aligns with ARK’s policy of maintaining a cap on individual company exposure, aiming to keep it around 10% of its holdings. Coinbase’s stock has b...