PANews reported on July 16, according to The Block, that Cathie Wood's Ark Invest sold 34,207 shares of Coinbase stock from its ARKW fund on July 15, valued at approximately $13.3 million, and also sold $8.7 million worth of spot Bitcoin ETF, both of which had previously reached all-time highs.
Ark Invest's investment strategy is to ensure that no single holding accounts for more than 10% of the fund's portfolio. According to the company's latest disclosure, as of July 15, COIN is currently the second largest holding in its ARKW fund, with a weight of 7.9%, valued at approximately $172.8 million. Robinhood is the largest holding in the ARKW fund, accounting for 8% of the fund, valued at $175.5 million.
