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.
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