ARK Fintech Innovation ETF sold nearly its entire stake in Silvergate Capital

BlockBeats news, January 6, according to Bloomberg, Cathie Wood's ARK Fintech Innovation ETF sold nearly all of its Silvergate Capital Corp. Shares. On Thursday, ARK Fintech Innovation ETF dumped 404,00 shares of Silvergate, reducing its position in the ETF by more than 99% and leaving it with less than 4,000 shares worth about $43,000, or just 0.01% of the fund's portfolio. BlockBeats previously reported that deposits in Silvergate's digital assets plunged to $3.8 billion from $11.9 billion, and jpmorgan cut its rating to "neutral" from "overweight" today.