Cathie Wood’s Ark Invest sold another 25,662 Coinbase shares on Thursday as the investment firm continues to rebalance its fund weightings.
Ark Invest offloaded 25,662 Coinbase shares across two of its exchange-traded funds on Thursday, according to the company’s latest trade filing.
Ark’s investment strategy aims to let no individual holding take up more than 10% of an ETF’s portfolio to maintain diversification within its funds — meaning it is likely to continue rebalancing its fund weightings if Coinbase’s stock price continues to rise compared to other holdings. According to the firm’s latest disclosures, Coinbase remains the largest holding within its ARKK ETF with a weighting of 9.9%. However, Coinbase has slipped to the second-largest holding in its ARKW fund, with a weighting of 10.1%, just behind Ark’s own spot Bitcoin ETF at 10.2%.
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