CDS Crypto News Ark Invest Announces Sale of Coinbase and GBTC Shares
Crypto News

Ark Invest Announces Sale of Coinbase and GBTC Shares

As prices reached all-time highs, Cathie Wood's Ark Invest sold off all of its Coinbase and GBTC shares.

266
Ark Invest Announces Sale of Coinbase and GBTC Shares

Crypto News – As the prices of Coinbase (COIN) and Grayscale Bitcoin Trust (GBTC) hit fresh 52-week highs, Cathie Wood’s investment management company Ark Invest sold the shares once more.

Ark Invest Announces Sale of Coinbase and GBTC Shares

According to transactions witnessed by CoinGape, Cathie Wood’s Ark Invest sold 283,104 Coinbase (COIN) shares for a total value of close to $43 million on December 13. 45,864 COIN shares were offloaded by ARK Next Generation Internet ETF (ARKW), while 239,237 Coinbase shares were sold by ARK Innovation ETF (ARKK).

Million-dollar Coinbase shares have been sold by Ark Investment funds as the price of COIN has increased by more than 345% this year. Together, the Ark Innovation ETF (ARKK), Ark Fintech Innovation ETF (ARKF), and Ark Next Generation Internet ETF (ARKW) sold 82,255 Coinbase shares on December 12 for a total of $11.48 million. On December 11, Ark Invest sold 13,634 Coinbase (COIN) shares for about $2 million.

The company funds sold out much more of their Grayscale Bitcoin Trust (GBTC) assets. ARK Next Generation Internet ETF (ARKW) sold an additional 45,864 shares of GBTC for a total of $1.6 million on December 13. ARK Next Generation Internet ETF (ARKW) sold an additional 395,945 shares of GBTC for a total of $13 million on December 11. This is Ark Invest’s biggest GBTC selloff to date.

Ark Invest Announces Sale of Coinbase and GBTC Shares
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

1 Comment

Related Articles

23 November Crypto News: Solana Hits All-Time High as XRP Surges Following Gensler’s SEC Exit

23 November Crypto News: Solana Hits All-Time High as XRP Surges Following...

VET Price Analysis: Challenges and Opportunities Beyond $0.045

VET Price Analysis: Challenges and Opportunities Beyond $0.045

QBTS Shares Hit Milestone with 52-Week High Amid Investor Optimism

QBTS Shares Hit Milestone with 52-Week High Amid Investor Optimism

DOGE Rally Continues After Musk Hints at X Payments Feature

DOGE Rally Continues After Musk Hints at X Payments Feature