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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. 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. COIN Is ARKF’s Second-Largest Holding Recent disclosures by the Cathie Wood -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.  Cathie Wood and Ark Invest’s trade activity from 12/18 pic.twitter.com/mOgWS9zzPp — Ark Invest Daily (@ArkkDaily) December 19, 2024 Part of ARK Invest’s strategy is to not have more than 10% of a portfolio exposed to a single stock in order to maintain diversif...

Grayscale Investments has launched a new investment trust focused on the Avalanche AVAX token. The trust aims to provide more investors with exposure to the Avalanche cryptocurrency. It is now open for daily subscriptions and works similarly to other Grayscale asset funds like its Bitcoin and Ethereum trusts. “The launch of Grayscale Avalanche Trust highlights Grayscale’s ongoing commitment to providing investors with innovative opportunities to access exciting developments in the crypto ecosystem,” stated Grayscale’s head of product and research, Rayhaneh Sharif-Askary. “Through its key strategic partnerships and unique, multi-chain structure, Avalanche is playing a pivotal role in the advancement of RWA tokenization.” Grayscale Investments is one of the biggest investment firms in the world. It is also one of the biggest recent supporters of incorporating cryptocurrency into daily finance. The company recently put Shiba Inu under the top cryptocurrency networks by market capitalizat...