ARK Sells ~250,000 Coinbase Shares Amid Staking Vulnerability
On July 17, Cathie Wood ’s ARK Invest sold another batch of Coinbase shares. The investment firm reduced its COIN holdings from the ARK Innovation ETF [ARKK] by 127,266 shares. Likewise, 76,788 shares and 44,784 shares were reduced from the Ark Fintech Innovation ETF [ARKF], and ARK Next Generation Internet ETF [ARKW]. In total, 248,838 COIN shares were sold. Based on the last close price of $105.55, they were worth around $26.26 million. Ark Invest’s latest Coinbase Share Transactions | Source: Cathie’s Ark All Coinbase-related transactions of ARK have only been sell transactions so far in July. Prior to the latest selling spree, the firm sold close to 500,000 shares on July 14, and more than 100,000 shares on July 11. However, before that, ARK had been on an accumulation spree. After the last set of transactions, ARK held a total of 10.7 million COIN shares. Thus, Cathie Wood ’s firm’s total COIN position is now roughly worth around $1.13 billion. Ark Invest’s Combined...