coinspress.com
15 February 2024 12:00, UTC
$ARK Invest, a leading US investment firm with a focus on cryptocurrency, recently made significant changes to its portfolio.
On February 14th, $ARK sold 214,068 shares of Coinbase (COIN) and 119,394 shares of Robinhood (HOOD) from its ETFs, totaling approximately $34 million.
The move coincided with Coinbase reaching its highest levels in 2024, surpassing $160 for the first time since early January.
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$ARK’s decision to sell Coinbase shares comes as the stock approaches its previous peak of $173 set in November 2023.
Additionally, $ARK’s ARKW fund sold around $1.5 million worth of Robinhood shares on February 14th.
The sale of Robinhood shares was influenced by compliance considerations, particularly Rule 12d3-1, which limits ETFs from holding more than 5% of their assets in securities from a single issuer.
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As of February 15th, ARKW’s major holdings include Coinbase, Roku (ROKU), $ARK Bitcoin ETF, Block (SQ), Tesla (TSLA), and Robinhood.
$ARK’s Bitcoin ETF, $ARK 21Shares Bitcoin ETF (ARKB), expanded its Bitcoin holdings by acquiring an additional 1,960 $BTC on February 15th, surpassing its initial holdings on the first day of trading.
$ARK’s Bitcoin ETF has now allocated a total of 24,925 $BTC, valued at $1.3 billion based on current Bitcoin prices.
