Odaily Planet Daily News: Cathie Wood's investment firm Ark Invest sold a total of 218,986 shares of Coinbase (COIN) on Monday, valued at approximately $90.58 million, involving three of its ETF products: ARKK sold 174,746 shares, ARKW sold 27,663 shares, and ARKF sold 16,577 shares. This reduction in holdings occurred after Coinbase's stock price reached an all-time high (over $437) last Friday, when the U.S. House of Representatives passed legislation regarding stablecoin and digital asset regulatory frameworks. In addition, ARKW also sold 109,824 shares of Robinhood (valued at $11.46 million), and ARKF sold 90,061 shares of Block (valued at $7 million). Ark Invest consistently adheres to a strategy where no single stock exceeds 10% of the fund's portfolio, thus regularly rebalancing positions based on asset price fluctuations. (The Block)
Ark Invest Reduces Coinbase Holdings Worth $90.58 Million, While Selling Robinhood and Block Positions
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