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Cathie Wood's #ARKInvest Sells $49.2 Million Worth of Coinbase Stocks #Cryptonews

🔵ARK Invest, led by Cathie Wood, sold a significant amount of Coinbase (#COIN) shares on Friday—335,860 shares to be exact.

🔵The total value of the sale amounted to approximately $49.2 million, marking it as the largest single sale by ARK Invest since July.

🔵The reason behind the sale was ARK Invest's adherence to a target weight policy, limiting a single portfolio's exposure to a maximum of 10%. The recent surge in #Coinbase's stock price prompted this move.

🔵The surge in the value of Coinbase shares led ARK Invest to rebalance its portfolio by selling a portion of its holdings to maintain the desired balance and risk level within their #ETFs.
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