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.
