ARK Invest Liquidates 166,000 More Coinbase Shares, totaling 25 Million Dollars in Value

Cathie Wood’s ARK Invest liquidated $25 million worth of Coinbase (COIN) shares on January 3, coinciding with a 3% decline in the stock, settling at $152.24.

The U.S.-based asset management firm has divested over $125 million in Coinbase shares since December 2023.

ARK Invest Liquidates 166,000 More Coinbase Shares, totaling 25 Million Dollars in Value

In response to the COIN sell-off, ARK Invest reported in a January 4 post on X that it acquired 105,201 Tesla (TSLA) shares, amounting to nearly $25.3 million. ARK Innovation ETF (ARKK) purchased 91,194 Tesla shares, while ARK Next Generation Internet ETF (ARKW) bought 14,007 TSLA shares.

Despite recent sales of Coinbase stock, ARK Invest retains a significant stake in the exchange. Coinbase remains the largest asset in the ARKF ETF portfolio, contributing over $145 million to its total asset value as of January 4. According to a post on Ark Invest Daily on X, ARK Invest offloaded 166,183 Coinbase shares valued at over $25.3 million on January 3. This included 145,048 shares from ARKK and 21,135 shares from ARKW.

Sale of 166,000 Coinbase Shares by ARK Invest Nets 25 Million Dollars

In the ARK Innovation ETF alone, the trading firm divested 201,711 Coinbase shares, with an additional 28,535 and 7,326 shares sold by the ARK Fintech Innovation ETF and the ARK Next Generation Internet ETF, respectively.

ARK Invest’s recent activities extend beyond Coinbase, having completely liquidated its remaining holdings in Grayscale Bitcoin Trust (GBTC), valued at $200 million, on December 28. Approximately $100 million from the GBTC sale was reinvested into Bitcoin Futures ETF Bito.