Share this article
Cathie Wood's ARK Sells Another $50.5M Coinbase Shares
The tech-focused investment manager owns over 10.5 million shares in Coinbase making it one of the largest holders of the stock.
Updated Jul 17, 2023, 2:47 p.m. Published Jul 17, 2023, 8:31 a.m.
Cathie Wood's ARK Invest sold another $50.5 million worth of Coinbase (COIN) shares on July 14 to cash in on the recent rally in the cryptocurrency exchange stock.
ARK sold over 480,000 COIN shares across three different funds. The tech-focused investment manager owns over 10.5 million shares in Coinbase making it one of the largest holders of the stock.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Coinbase shares recently rose to a one-year high of $107 after the exchange announced surveillance-sharing agreements with five spot bitcoin exchange-traded fund applicants, which may prove to be the breakthrough in the Securities and Exchange Commission (SEC) finally approving such a fund to be listed in the U.S.
ARK sold $12 million worth of COIN shares on July 11 after the stock rallied to a then one-year high of around $89. Shares of Coinbase closed 1.58% lower at $105.31 on Friday.
Read More: Coinbase Rally on the Back of XRP Court Ruling Is Overdone: Berenberg
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
Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
What to know:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
Top Stories
