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Ark Invest Continues To Sell Shares Of The Popular Cryptocurrency Exchange Coinbase.

ARK Invest sold approximately 133,823 Coinbase shares from its portfolio across three ETFs on January 8th, resulting in a transaction worth around $20.6 million.

On January 5th, ARK Invest, owned by Cathie Wood, sold an additional 133,823 shares of the cryptocurrency exchange Coinbase. Coinbase opened the day at $152.67 and closed at $153.98.

The United States-based asset management company shared its transactions from January 5th on Twitter on January 8th. Among these transactions were sales of 107,151 Coinbase shares from the ARK Innovation ETF (ARKK), 15,892 from the ARK Next Generation Internet ETF (ARKW), and 10,780 from the ARK Fintech Innovation ETF (ARKF).

The total value of the sold Coinbase shares amounted to approximately $20.6 million, with the stock price around $153.98.

ARK Invest also sold a portion of Stratasys shares and used the proceeds to acquire shares in Palantir Technologies and Iridium Communications.

On January 3rd, ARK had previously sold approximately 166,000 Coinbase shares valued at around $25 million. Before this sale, on December 5th, another 237,000 shares had been sold.

Despite the significant sales of Coinbase shares, ARK Invest still holds a substantial amount. Coinbase remains the largest asset in the ARKK ETF, constituting 10.04% of the portfolio. Similarly, in the ARKW ETF, Coinbase retains the largest asset position with 10.37%, and in the ARKF ETF, it holds 13.41%.

These sales coincide with a period when the crypto community eagerly awaits the approval of the first spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). ARK Invest is among the 14 companies applying for a spot BTC ETF. ARK's spot Bitcoin ETF, developed in collaboration with Swiss firm 21Shares, was one of the first to submit an application to the SEC. The application is currently in the process of approval or rejection, with a decision expected by January 10th.

You can follow real-time developments and the latest news in the cryptocurrency markets with Kriptospot.com.

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