ARK Invest sold over 580,000 Coinbase shares last week worth $149.85 million at Friday's closing price, with the sales coming from ARK's Innovation, Next Gen Internet, and Fintech Innovation ETFs. ARK aims to have no individual holding over 10% of an ETF to limit concentration. COIN's value has risen over 80% in the last month as Bitcoin surged nearly 50%. Bitcoin hitting new all-time highs over $70,000, and Coinbse remains above the 10% threshold in the three ETFs, suggesting more sales are likely. It was the largest offload of COIN shares by ARK since mid-February.
