Ark Invest offloaded another 74,291 Coinbase shares on Monday as the investment firm continues to rebalance its fund weightings.
Ark Invest offloaded 74,291 Coinbase shares — worth $20.8 million — across three exchange-traded funds on Monday, according to the company’s latest trade filing.
Ark’s latest offloading follows more than $100 million worth of Coinbase shares it sold last week as the price of COIN returned to fresh yearly highs. According to the firm's latest disclosures, Coinbase remains the largest holding within its ARKK, ARKW and ARKF ETFs — with current weightings at 10.6%, 10.9% and 12.7%, respectively.
Ark Invest also sold $7.9 million worth of shares in Jack Dorsey’s Block and $31.5 million worth of Robinhood stock on Monday.Coinbase stock traded for $279.71 at market close on Monday. COIN gained nearly 10% for the day and is up more than 25% over the past week and 61% year-to-date, according to TradingView.
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