ARK Invest, the investment firm led by Cathie Wood, sold a broad set of crypto-related positions on Monday as shares tied to the sector moved higher. The transactions included 36,628 shares of Coinbase worth about $7 million, 142,350 shares of Circle worth roughly $13.8 million, 153,881 shares of Bitmine worth about $3.96 million, and 18,280 shares of Bullish worth around $688,000. ARK also sold about 1.529 million shares of the ARK 21Shares Bitcoin ETF, or ARKB, valued at about $40 million based on that day’s closing price. That made the ARKB sale the largest trade in the batch. According to the report, ARK Invest regularly adjusts crypto exposure across its funds in line with market conditions, and its investment framework caps any single holding at no more than 10% of a fund’s assets.
ARK Invest, led by Cathie Wood, sold several crypto-related holdings on Monday as stocks tied to the sector broadly moved higher, according to BlockBeats.
Series of sales across crypto names
The firm sold 36,628 shares of Coinbase valued at about $7 million. It also cut 142,350 shares of Circle worth roughly $13.8 million, sold 153,881 shares of Bitmine worth about $3.96 million, and disposed of 18,280 shares of Bullish valued at around $688,000.
ARKB accounted for the biggest reduction
In addition to those stock sales, ARK Invest sold about 1.529 million shares of the ARK 21Shares Bitcoin ETF (ARKB). Based on the day’s closing price, that stake was worth about $40 million. The ARKB sale was the largest transaction among the positions disclosed.
Portfolio rule remains in place
BlockBeats said ARK Invest continues to adjust crypto exposure across its funds in response to market conditions. Under its investment strategy, any single holding cannot account for more than 10% of a fund’s assets.
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