Ark Invest Offloads $13.3M in Coinbase Shares Amid Record Highs

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Cathie Wood’s Ark Invest sold 34,207 Coinbase shares, valued at approximately $13.3 million, from its Next Generation Internet ETF (ARKW) on Tuesday. The firm also divested $8.7 million worth of its own spot Bitcoin ETF as both assets reached all-time highs.

Ark Invest follows a disciplined investment strategy, capping individual holdings at no more than 10% of a fund’s portfolio to ensure diversification.

This approach means the firm regularly rebalances its allocations when certain assets experience significant price movements relative to others.

As of July 15, Coinbase (COIN) was ARKW’s second-largest holding, accounting for 7.9% of the fund—worth roughly $172.8 million. Robinhood remains the top holding, representing 8% of the portfolio with a value of $175.5 million.