Share this article
ARK Invest Coinbase Share Sale Takes December Total Close to $200M
Cathie Wood's investment firm also sold GBTC stock while increasing its holdings of Block.
Updated Mar 8, 2024, 7:02 p.m. Published Dec 21, 2023, 12:21 p.m.
Make us preferred on Google
Cathie Wood’s investment firm, ARK Invest, extended its sales of Coinbase (COIN) stock on Wednesday, taking the December total to $196.8 million as the shares rallied almost 30% since end-November.
The ARK Innovation exchange-traded fund (ARKK) sold 132,782 shares, and the ARK Next Generation Internet ETF (ARKW) jettisoned 16,998, a total worth $24 million at Wednesday’s closing price.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The firm often reduces its Coinbase holdings as the shares rise because it has a policy of keeping exposure to individual companies to a maximum of around 10% of its holdings. COIN remains above that level in both ARKK and ARKW.
ARKW also dumped more stock of the Grayscale Bitcoin Trust (GBTC), reducing its holding by 398,383 while loading up another 158,334 shares of Block (SQ), which offers payments in crypto through its Cash App and earlier this month unveiled a new self-custody bitcoin wallet.
While GBTC’s discount to net asset value widened slightly, just 0.33 percentage points, Wednesday to 7.9%, it's still well below the 12.5% it touched earlier this month and holding near the narrowest since August 2021, according to Ycharts data. Bitcoin, meantime, rallied 3.3%, crossing $44,000 for the first time in 10 days yesterday, CoinDesk Indices data show.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Kevin O'Leary says power is now more valuable than bitcoin
"Shark Tank" investor Kevin O'Leary is pivoting his crypto strategy from tokens to energy infrastructure, declaring that power generation is now the real prize.
What to know:
The big pivot: O'Leary has moved capital away from smaller tokens to focus on physical infrastructure like land, power, and copper.
- He believes power is now "more valuable than bitcoin" and has secured significant land deals with stranded natural gas in Alberta and the U.S.
- His thesis is driven by the massive energy needs of bitcoin mining and AI, noting that entities controlling power can serve either market.
- He advises investors to look at copper and gold, noting copper prices have nearly quadrupled for his projects in the last 18 months.
- He views Robinhood and Coinbase as "no-brainer" infrastructure investments, having reallocated capital from altcoins into these platforms. He describes Robinhood as the premier bridge for managing equity and crypto in one portfolio, while labeling Coinbase the "de facto standard" for businesses to manage stablecoin transactions and vendor payments once regulatory acts pass.
Top Stories
