According to a recent trading update, Cathie Wood's Ark Invest trimmed its portfolio's exposure to prominent cryptocurrency-related stocks. The investment firm reported reducing its holdings in Coinbase (COIN) by 335,860 shares, amounting to approximately $49.24 million, and Grayscale Bitcoin Trust (GBTC) by 188,831 shares, approximately $6.6 million, between Thursday, December 7, and Friday, December 8. Besides, the firm also sold off 37,151 shares in Robinhood (HOOD), equivalent to roughly $420,000.
Ark Invest's ARK Next Generation Internet ETF (ARKW) cut 86,159 shares in GBTC on December 7. On the same day, ARK Fintech Innovation ETF (ARKF) shed 37,151 shares in Robinhood.
On December 8, ARK Innovation ETF (ARKK) cut 326,925 shares in Coinbase stocks, while ARKF let go of 6,568 Coinbase shares. ARKW lowered its holdings by 2,367 Coinbase shares and chopped off 102,672 GBTC fund shares.
