Ark Invest Offloads Another 12K Coinbase Shares Worth $2.7M

The post Ark Invest Offloads Another 12K Coinbase Shares Worth $2.7M appeared first on Coinpedia Fintech News

Ark Invest has offloaded another 12,077 Coinbase shares on Wednesday, worth $2.7 million. ARK’s latest Coinbase dump follows ARKW’s recent sale of 16,758 COIN shares on July 19. At the time of the sale, the transaction netted $4.3 million, with COIN trading at around $257. Ark’s investment strategy generally aims to avoid individual holdings taking up more than 10% of an ETF’s portfolio, to maintain diversification within its funds. COIN is now the fourth-largest holding within its ARKW ETF, with a weighting of 7.3% as of August 1,