Cathie Wood’s investment company, Ark Invest, continues to sell Coinbase (COIN) shares in order to balance its funds.
In parallel with the rise of the cryptocurrency market US cryptocurrency exchange Coinbase shares too about 88% in the last 2 months rose. This rise is due to Ark Invest caused a deviation in the fund weight balance. In order to prevent this imbalance, Ark has been 100 millions of dollars worth of COINs.
According to the latest data Tuesday, December 12 The investment company that took action on the day is from the Innovation ETF. $9.1 million worth 65,297 Coinbase shares from the Next Generation Internet ETF. 15,502 Coinbase shares worth $2.2 million and finally from the Fintech Innovation ETF 1,456 Coinbase shares worth $203K sold.
In accordance with the company’s rules, for each product in its portfolio a slice of 10% Even though he was separated, the share of the share in the portfolio had exceeded 10% after the recent increases in COIN.
The company sold $100 million worth of COINs last week in order to balance its portfolio. According to TradingView data in the last 24 hours 0.5% value losing COIN, at the time of writing from $139 is being traded.