ARK Invest has offloaded a further $20.6 million in Coinbase (COIN) shares, spanning three of its exchange-traded funds (ETFs).

Of the Coinbase shares sold on Jan. 5, by Cathie Wood‘s investment firm, 107,151 shares ($16.5 million) were from the Innovation ETF, 15,892 shares ($2.4 million) from the Next Generation Internet ETF and 10,780 shares ($1.7 million) from the Fintech Innovation ETF.

Including the $25.3 million in COIN shares sold on Dec. 3 and $4.1 million on Dec. 4, ARK Invest’s total sales of Coinbase stock reached $50 million last week, even as the stock declined by about 10%.

This series of sales is a continuation of the firm’s strategy to maintain balance in its portfolio, particularly to avoid any single stock exceeding 10% of an ETF’s total value.

The bulk of ARK’s Coinbase investment lies in its ARKK fund, holding over $850 million in COIN. The latest offload reduced ARKK’s holding in COIN to 10.04%, indicating that ARK may soon halt further sales from this ETF unless there’s another surge in Coinbase’s share price.

The ARKW and ARKF ETFs have lesser holdings in Coinbase, but their weightings are slightly higher at 10.37% and 13.41%, respectively.

ARK’s strategy of rebalancing its fund weightings was also evident in December when it sold $200 million worth of Coinbase shares following a 40% surge in COIN’s price.

At the market close on Friday, Coinbase shares were trading at $153.98, marking a slight 1% decrease for the day. Despite this, the stock has seen an impressive 350% increase over the past year. However, it remains 55% below its all-time high of $342.98, recorded during the peak of the crypto bull market in November 2021.