Ark Invest, led by Cathie Wood, has offloaded $2.7 million worth of Coinbase shares, marking the first sale since a $4.3 million offload on July 19.
Points
- Ark Invest sold 12,077 Coinbase shares worth $2.7 million.
- First sale since the $4.3 million offload on July 19.
- Coinbase shares are the fourth-largest holding in ARKW ETF.
- ARKW ETF is up around 33% over the past year.
Ark Invest offloaded 12,077 Coinbase shares — worth $2.7 million — from its Next Generation Internet exchange-traded fund （ARKW） on Wednesday. This marks the first time the Cathie Wood-led investment firm has sold Coinbase shares since it offloaded $4.3 million worth of COIN on July 19.
Ark’s investment strategy generally aims to avoid individual holdings taking up more than 10% of an ETF’s portfolio. This is to maintain diversification within its funds — meaning it is likely to continue rebalancing its weightings if COIN’s value rises relative to Ark’s other holdings in the fund.
According to the firm’s latest disclosures, COIN is now the fourth-largest holding within its ARKW ETF, with a weighting of 7.3% as of Aug 1, behind Ark’s own spot Bitcoin ETF （ARKB）, Tesla, and Roku shares with 11%, 10%, and 8.4% weightings, respectively. ARKW’s Coinbase holdings have a current market value of $102.4 million. Overall, ARKW is up around 33% over the past year.
Coinbase Stock Performance
Coinbase’s stock traded for $224.36 at market close on Wednesday, trading flat for the day but up nearly 30% year-to-date, according to TradingView. However, COIN remains 35% below its prior all-time high of $342.98, set in November 2021.
The Block
COIN/USD price chart. Image: TradingView.
Coinbase is currently valued at $41.7 billion, according to The Block’s data dashboard.
Last week, Ark sold 118,209 shares of its own ARKB spot Bitcoin ETF from the same ARKW fund, worth $7.8 million.
解説
- Ark Invest’s strategic sale of Coinbase shares reflects its portfolio diversification approach and risk management.
- Despite recent sales, Coinbase remains a significant holding in ARKW ETF, highlighting its importance within the portfolio.
- Coinbase’s stock performance shows substantial year-to-date gains, though it remains below its all-time high, indicating potential growth opportunities.