Source: Ark Invest
Cathie Wood’s Ark Invest continues its selling spree of shares of the biggest US-based crypto exchange, Coinbase, in the middle of the continuous crypto rally.
Ark Invest Daily reported that the fund management company unloaded $24.2 million worth of Coinbase shares and $3.4 million worth of shares of the Grayscale Bitcoin Trust on Wednesday.
A day in the past, Ark Invest had actually discarded almost $33 million in Coinbase shares and $5.9 countless Grayscale Bitcoin Trust.
Ark offered Coinbase shares on Wednesday through various exchange-traded funds. The fund management unloaded 120,433 Coinbase shares throughout 3 various ETFs: Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF).
Cathie Wood and Ark Invest’s trade activity from today 12/6 pic.twitter.com/bfl0E48ynL
— Ark Invest Daily (@ArkkDaily) December 7, 2023
ARK Invest still holds over 6 million Coinbase shares.
Bitcoin supporter Cathie Wood-led Ark Invest still holds 6,847,644 shares of Coinbase, with a market price of over $960 million. Coinbase shares total up to 11.64% of all ARKK holdings at the minute.
Coinbase shares are up almost 7% in the last 5 days. The closing cost of COIN on Wednesday was $140.20,
