Ark Invest Sells $3.9 Million in Coinbase Shares Amid Market Volatility

CoinMarketCap
2024-12-19
Ark Invest Sells $3.9 Million in Coinbase Shares Amid Market Volatility

Ark Invest has sold 13,780 shares of Coinbase, valued at approximately $3.9 million, as part of a rebalancing strategy within its Fintech Innovation ETF (ARKF).

This sale occurred on Dec. 18, coinciding with a notable drop in Coinbase's stock price, which closed at $279.86—down over 10% following Federal Reserve Chair Jerome Powell's hawkish comments.

The firm’s decision to offload Coinbase shares is part of its strategy to prevent any single holding from exceeding 10% of its ETF portfolio, ensuring a diversified investment approach. As of the latest disclosures, Coinbase is the second-largest holding in ARKF, comprising 9.9% of the fund, just behind Spotify. The market value of Ark's Coinbase holdings now stands at around $110 million.

The recent volatility in Coinbase's stock can be attributed to Powell’s remarks, which altered market expectations regarding future interest rate cuts. Following a widely anticipated 25-basis-point rate cut, Powell stated that the outlook for 2025 rate reductions had shifted from four cuts to two, unsettling investors.

This shift in tone has also affected the broader crypto market, with Bitcoin experiencing a significant decline, dropping from above $108,000 to below $100,000 before recovering slightly.

Despite the downturn, Bitcoin spot ETFs saw strong inflows, adding $275.3 million on the same day, continuing a positive trend that has totaled over $6.7 billion in recent weeks. Ethereum spot ETFs also reported net inflows, totaling nearly $2.5 billion over the same period.

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10