Cathie Wood captures profits as she sells COIN this week across ARKK, ARKW, and ARKF

seekingalpha03-13

Cathie Wood and Ark Invest cashed in on some of its Coinbase Global (NASDAQ:COIN) profits this week, as the ETF issuer has now sold just over 375K shares of COIN across three of the firms six actively...

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In total, over the course of Monday and Tuesday, ARK Invest has sold a total of 376,365 shares of COIN across ARK Innovation ETF (NYSEARCA:ARKK), ARK Next Generation Internet ETF (NYSEARCA:ARKW) and ARK Fintech Innovation ETF (NYSEARCA:ARKF). Looking at specifics, over the past two sessions, ARKK sold 237,541 shares of COIN, ARKW got rid of 32,371 shares and ARKF unloaded 106,371 shares. Wood who has been a longtime crypto bull who previously said that Bitcoin (BTC-USD) will hit $1M by 2030 has favored Coinbase Global in her ETF portfolio’s. The innovation focused investor has COIN labeled as the top holding in ARKK, ARKW, and ARKF. From a portfolio construction stance, aside from being the top holding in each fund, COIN also has a 10%+ weighting in each of the ETFs. See the weightings breakdown below:  ARKK has a 10.87% weighting in COIN. ARKW has a 12.09% weighting in COIN. ARKF has a 12.37% weighting in COIN.  Furthermore, of the entire ETF universe, ARKK, ARKW, and ARKF have some of the largest allocations towards COIN. COIN is held by 140 exchange traded funds and ARKF is the fifth largest holder, ARKK is the seventh largest holder, and ARKW is the eighth largest holder. Data is per ETF.com. See how each fund along with COIN and Bitcoin have traded in 2024:  ARKK -4.1% YTD. ARKW +8.7% YTD. ARKF +8.2% YTD. COIN +47.2% YTD. BTC-USD +65.1% YTD.   More on Coinbase Global  Coinbase: My Pick For The Most Overvalued U.S. Stock Coinbase Global Inc (COIN) Morgan Stanley Technology, Media and Telecom Conference (Transcript) Coinbase: A Crypto Play With A Catalyst (Rating Upgrade) Coinbase announces proposed private offering of $1B of convertible senior notes due 2030 Coinbase upgraded at Raymond James amid bitcoin rally, but long-term risks remain","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2419968026"}