Ark Invest, Sells an Additional 4 Million Dollars in Coinbase Shares

Crypto News- Cathie Wood’s Ark Invest seems to be gradually distancing itself from Coinbase Global Inc., with the most recent sale involving the offloading of 26,743 shares valued at $4.1 million. This move comes just a day after a substantial sale of $25.3 million in Coinbase shares. The selling trend persisted on Thursday, as evidenced by Ark Invest’s daily trade disclosure for its ARK Innovation ETF. Interestingly, despite the divestment in Coinbase, the ETF strategically acquired 132,955 shares of Recursion Pharmaceuticals on the same day, with a total value of approximately $1.48 million.

Ark Invest, Sells an Additional 4 Million Dollars in Coinbase Shares

Over the past few weeks, Ark Invest’s ETFs have collectively shed over $200 million worth of Coinbase shares. Nevertheless, Coinbase stock demonstrated resilience by closing Thursday with a 2.21% increase at $155.6. It’s worth noting that the stock has witnessed a remarkable surge of over 360% in the past year.

In additional Coinbase-related developments, the cryptocurrency exchange has followed in the footsteps of its industry counterparts by imposing a requirement for UK users to complete a risk-acknowledgment form. This move aligns with guidelines from the country’s financial regulator, showcasing Coinbase’s commitment to regulatory compliance in an ever-evolving financial landscape.