Share this article
ARK Invest Sells Coinbase Shares for Third Straight Day
The investment firm has sold the crypto exchange's stock on all but two trading days this month.
Updated Mar 8, 2024, 6:36 p.m. Published Dec 13, 2023, 10:13 a.m.
Cathie Wood’s investment management firm, ARK Invest, sold Coinbase (COIN) stock for a third straight day as the shares held steady within 5% of the year’s high.
The firm offloaded a total of 82,255 shares worth about $11.5 million at Tuesday’s closing price from the ARK Innovation (ARKK), ARK Next Generation Internet (ARKW) and ARK Fintech Innovation (ARKF) exchange-traded funds (ETF). It has reduced its stake in the crypto exchange on all but two trading days this month.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Coinbase stock has been surging as bitcoin [BTC] climbs. The largest cryptocurrency by market cap has added about 150% this year, while Coinbase has almost quadrupled.
St. Petersburg, FL-based ARK Invest’s policy is to keep the maximum weight of any given company in its holding to 10%. The recent rally in COIN stock, which last month touched highs not seen since April 2022, means its weighting in the three ETFs remains in excess of that level even after recent divestments that include Friday’s $49 million sale, the largest since July.
This month, ARK Invest has sold more than $120 million of Coinbase shares, based on closing prices.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
JPMorgan Pushes Deeper Into Tokenization With Galaxy's Debt Issuance on Solana
Galaxy’s onchain debt deal, where JP Morgan acted as arranger, was settled in USDC stablecoin and backed by Coinbase and Franklin Templeton.
What to know:
- J.P. Morgan arranged Galaxy Digital’s commercial paper issuance on the Solana blockchain, one of the first of its kind in the U.S.
- Coinbase and Franklin Templeton bought the short-term debt instrument, settled in USDC
- Tokenization of real-world assets is gaining traction, with projections suggesting the market could reach $18.9 trillion by 2033.
Top Stories
