After Coinbase Shares Surge to New Records, ARK Invest Trims Its Position by $8.64 Million

ARK Invest Trims Coinbase Holdings as Shares Hit New Peaks

Coinbase (COIN) soared to historic highs above $395 on Friday, riding the momentum of bitcoin’s breakout to a record near $118,000.

Taking advantage of the surge, ARK Invest, led by Cathie Wood, sold about $8.64 million worth of Coinbase shares last week as the crypto exchange’s rally gathered pace.

On Friday, ARK’s Next Generation Internet ETF (ARKW) offloaded 5,596 shares of Coinbase, worth roughly $2.17 million based on Friday’s close at $387.06. That sale followed Thursday’s move by the ARK Innovation ETF (ARKK) to shed 16,627 COIN shares, valued at approximately $6.47 million at Thursday’s closing price.

During Friday’s session, COIN briefly touched an all-time high above $395, driven by bitcoin’s rapid ascent.

ARK Invest routinely rebalances its funds to keep individual positions from exceeding 10% of total ETF assets, ensuring diversified exposure and risk management.

As of the latest pre-market session, Coinbase shares were trading at $393.50, a 1.66% increase from Friday’s close, while bitcoin’s rally pushed the flagship cryptocurrency past $122,000 to set another fresh record.