{"id":611556,"date":"2024-12-19T15:44:33","date_gmt":"2024-12-19T15:44:33","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=611556"},"modified":"2024-12-19T15:44:33","modified_gmt":"2024-12-19T15:44:33","slug":"ark-invest-dumps-3-9-million-in-coinbase-shares-amid-10-price-drop-and-fed-rate-cut-caution","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ark-invest-dumps-3-9-million-in-coinbase-shares-amid-10-price-drop-and-fed-rate-cut-caution","title":{"rendered":"Ark Invest Dumps $3.9 Million In Coinbase Shares Amid 10% Price Drop And Fed Rate Cut Caution"},"content":{"rendered":"

Ark Invest dumped Coinbase (COIN) shares worth about $3.9 million from its Fintech Innovation exchange-traded fund (ARKF) on Dec. 18 amid a 10% drop in the exchange’s share price and after Chair Jerome Powell surprised markets when he said the Fed will have a cautious stance on rate cuts going forward.<\/span><\/p>\n

The sale by ARK Invest marks one of the biggest by the investment firm since it sold $2.8 million worth of COIN on Sept. 23.<\/span><\/p>\n

COIN Is ARKF’s Second-Largest Holding<\/span><\/h2>\n

Recent disclosures by the <\/span>Cathie Wood<\/span><\/a>-led investment firm shows that COIN is ARKF’s biggest holding, with the fund’s COIN weighting standing at 9.9% as of Dec. 18.  Meanwhile, its biggest holding is in Shopify. <\/span><\/p>\n

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Cathie Wood and Ark Invest’s trade activity from 12\/18 pic.twitter.com\/mOgWS9zzPp<\/a><\/p>\n

— Ark Invest Daily (@ArkkDaily) December 19, 2024<\/a><\/p><\/blockquote>\n