đ Ding Ding Ding! BTC lovers, we've got news! đ Cathie Wood's Ark Invest has once again trimmed its holdings in Coinbase (COIN), selling off 70,616 shares worth $15.1 million across three of its ETFs on May 7th. đ±
Despite Coinbase's impressive Q1 earnings report, Ark Invest seems to be sticking to its strategy of limiting exposure to any single stock in its ETF portfolio to no more than 10%. đ§ź
Ark Invest had previously mentioned plans to continue rebalancing and selling off shares if Coinbaseâs weighting surpasses this threshold. đ
Coinbase reported total revenue of $1.64 billion, beating the Street consensus estimate of $1.34 billion. đ But even with this strong performance, Ark Invest chose to offload shares, hinting at a strategic move influenced by factors beyond Coinbaseâs recent financial success. đ€
In ARKK ETF, Coinbase ranks as the third-largest holding, making up 8.2% of the portfolio, following Tesla and Roku. In ARKW, it's the fourth-largest holding at 8.2%, and in ARKF, Coinbase leads as the top holding with a 10.4% weight. đ
Stay tuned, BTC enthusiasts! The crypto world never sleeps, and neither do we! đđ«
