ARK Invest Sells Off Crypto Stocks for Nearly $65 Million

On September 15, ARK Invest reduced its holdings in several assets, cashing out nearly $65 million amid a general rise in crypto-related stocks. The specific transactions included: selling 36,628 shares of Coinbase, valued at approximately $7 million; reducing 142,350 shares of Circle, valued at about $13.8 million; selling 153,881 shares of Bitmine, valued at around $3.96 million; and 18,280 shares of Bullish, valued at approximately $688,000. Additionally, ARK Invest sold about 1.529 million shares of the ARK 21Shares Bitcoin ETF (ARKB), valued at around $40 million based on the closing price of the day, marking the largest reduction. ARK Invest will continue to adjust the crypto asset exposure of its funds based on market conditions, with an investment strategy that stipulates that a single holding cannot exceed 10% of the fund's assets.

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