ARK Invest Secures $108.5 Million in One Day by Selling U.S. Fintech Stocks

ARK Invest, spearheaded by renowned investor Cathie Wood, has achieved a remarkable milestone, generating approximately $108.5 million in a single day through the sale of shares in leading U.S. fintech companies, including Coinbase, Robinhood, and Block. According to a report from The Block on October 21 (local time), this strategic move took place amid heightened market activity on October 18, with ARK leveraging the opportunity to divest over $100 million worth of stocks across its portfolio.

Coinbase Stock Sale Commands the Lion’s Share of ARK’s Cash Flow

The largest contributor to ARK Invest's earnings was its stake in Coinbase, accounting for a staggering $90.58 million (approximately KRW 125.5 billion). Across three of its exchange-traded funds (ETFs), ARK offloaded a total of 218,986 Coinbase shares. Here's the ETF-based breakdown of sales:

• ARK Innovation ETF (ARKK): Sold 174,746 shares.
• ARK Next Generation ETF (ARKW): Sold 27,663 shares.
• ARK Fintech Innovation ETF (ARKF): Sold 16,577 shares.

This sale coincided with a milestone for Coinbase, whose share price reached an all-time intraday high of $437—partially fueled by the U.S. House of Representatives passing the GENIUS Act, a legislative measure likely to benefit the cryptocurrency exchange. Despite this spike, volatility emerged, leading Coinbase shares to close 1.47% lower at $413.63.

Diversified Fintech Sales Boost ARK’s Liquidity by Millions

Beyond Coinbase, ARK Invest also shed shares in other fintech trailblazers, raking in more than $18 million (approximately KRW 25 billion) in liquidity. Among these notable transactions:

• Robinhood: ARKW sold 109,824 shares, earning $11.46 million (approximately KRW 15.9 billion). Robinhood’s stock reflected market fluctuations, closing 4.92% lower at $104.34.
• Block: ARKF offloaded 90,061 shares for $7 million (approximately KRW 9.7 billion). In contrast to Robinhood, Block's share price surged 7.22%, finishing at $78.08—marking a strong performance in its sector.

Strategic Portfolio Rebalancing Underpins ARK's Moves

Industry analysts attribute these sales to ARK Invest's disciplined portfolio management approach. Staying true to its investment principles, ARK enforces a strict 10% cap on any individual stock holding within its ETFs. When a stock’s value experiences sharp price fluctuations, the firm often adjusts its positions to comply with this ceiling. The rebalancing is designed to ensure diversification and reduce risk while maintaining exposure to high-growth assets.

Cathie Wood’s ARK Invest stands out as a pioneer in innovation-focused investing, navigating volatile market trends with precision and consistency. By following rigorous portfolio management guidelines, ARK continues to demonstrate its leadership in the industry, delivering value to its investors amidst dynamic financial markets.

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