ARK offloads $5.2M in Coinbase stock amid 18-month high
1 min read
ARK Invest, one of the companies that
“Since GBTC is up 76% since August ARK has to sell many shares to keep a 9%-ish weighting. And even with that selling, its weighting has gone up,” the ETF analyst noted.
While selling Coinbase and GBTC, ARK has concurrently been bagging some crypto-related stocks. On Nov. 27, ARKF acquired 252,421 shares of the crypto-friendly banking app SoFi. Year to date, ARK bought a total of 1.6 million SoFi shares, worth $11 million at today’s prices, according to TradingView. ARK has also been accumulating shares of the crypto-friendly investment app Robinhood, buying $1.1 million worth of the stock on Nov. 8.
Magazine: Crypto regulation — Does SEC Chair Gary Gensler have the final say?
