Ark Invest Continues to Sell Coinbase Shares from ARKW ETF
01.08.2024 14:30 1 min. read Alexander Stefanov
Ark Invest sold 12,077 shares of Coinbase—valued at $2.7 million—from its Next Generation Internet ETF (ARKW) on Wednesday.
This marks Ark’s first sale of Coinbase shares since unloading $4.3 million worth on July 19.
Ark Invest typically ensures no single asset exceeds 10% of an ETF’s portfolio to maintain diversification.
Currently, Coinbase is the fourth-largest position in ARKW, making up 7.3% of the fund.
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The ETF’s largest holdings are its own spot Bitcoin ETF (11%), Tesla (10%), and Roku (8.4%).
ARKW’s Coinbase shares are valued at $102.4 million, and the ETF has risen approximately 33% over the past year.
Coinbase’s stock closed at $224.36 on Wednesday, unchanged for the day but up nearly 30% year-to-date, though it remains 35% below its peak of $342.98 from November 2021.
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