ARK Invest sold nearly $95 million worth of Coinbase shares following a record high surge to over $380 on June 26. On Monday, the firm offloaded approximately $43.8 million of COIN shares, continuing a trend from the previous week where a total of 270,984 COIN shares were sold across three trading days. Cathie Wood's investment strategy focuses on not allowing any single holding to exceed 10% of its total assets, which has prompted ARK to sell shares during price rallies and buy them back during declines. ARK holds Coinbase shares in three of its ETFs: Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF).
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