TechFlow news, March 4 — According to The Block, Ark Invest purchased 38,865 shares of Coinbase stock worth approximately $8 million for its ARKW fund on Monday (March 4), while simultaneously selling $8.2 million worth of its own Bitcoin ETF (ARKB). This marks the company’s second portfolio rebalancing move following last week’s initial transaction, when Ark bought $8.7 million worth of COIN shares and sold $8.6 million of ARKB.
As disclosed by Ark Invest, as of March 3, Coinbase ranked as the sixth-largest holding in the ARKW fund, accounting for 6% of the portfolio with a value of about $99.1 million. ARKB remains the fund’s largest holding at 10.3%, valued at approximately $169.8 million. Ark’s investment strategy aims to ensure that no single holding exceeds 10% of the fund's total allocation, maintaining portfolio diversification.
On Monday, Coinbase shares fell 4.6%, closing at $205.75, down nearly 20% year-to-date. Despite Ark’s reduction, ARKB was the only U.S. spot Bitcoin ETF to record net inflows on Monday, attracting $58.2 million, while BlackRock’s IBIT and Grayscale’s GBTC saw outflows of $78 million and $54.4 million respectively, resulting in a total net outflow of $74.2 million across all spot Bitcoin ETFs that day.
