Coinbase remains the most significant asset in the ARKF ETF portfolio, accounting for nearly $109 million of its asset value as of Jan 4.
Cathie Wood’s ARK Invest sold $25 million worth of crypto exchange Coinbase (COIN) shares on Jan. 3 as the stock dropped 3% to $152.24. The United States-based asset management company has divested more than $125 million of shares in the exchange since December 2023.
ARK Invest said in a Jan. 4 post on X that it purchased 105,201 Tesla (TSLA) shares worth nearly $25.3 million after the COIN sell-off. ARK Innovation ETF (ARKK) bought 91,194 Tesla shares, and ARK Next Generation Internet ETF (ARKW) purchased 14,007 TSLA shares.
Despite continuing to actively sell Coinbase stock recently, ARK still holds significant shares in the exchange. Coinbase remains the biggest asset in the portfolio of the ARKF ETF, accounting for more than $145 million of its total asset value as of Jan 4.
