Ark Invest Is Selling Coinbase Shares.

Coinbase shares continue to hold a significant place in ARK's portfolio.

Cathie Wood's company, ARK Invest, recently sold $25 million worth of Coinbase shares, causing a 3% drop in Coinbase's stock. The U.S.-based asset management firm has divested more than $125 million worth of Coinbase shares since December 2023.

In a Twitter post on January 4th, the company announced the sale of $25.3 million worth of Tesla shares (TSLA) along with COIN. ARK Innovation ETF (ARKK) acquired 91,194 TSLA shares, while ARK Next Generation Internet ETF (ARKW) purchased 14,007 TSLA shares.

Despite recent sales of Coinbase shares, ARK still holds a substantial amount of COIN shares. COIN remains a significant asset in the ARKF ETF portfolio, with over $145 million worth of COIN shares as of January 4th.

Cathie Wood bought some more Tesla $TSLA today 👀

Ark Invest's trade activity from today 1/3 pic.twitter.com/1jxEIgyBtR

— Ark Invest Daily (@ArkkDaily) January 4, 2024

According to a tweet by Ark Invest Daily on Twitter, ARK Invest sold approximately $25.3 million worth of 166,183 Coinbase shares on January 3rd. Additionally, on December 5th, they also disposed of 237,572 Coinbase shares. This sale occurred on a day when COIN closed at $140 per share, generating a net income of at least $33 million. Moreover, on December 28th, ARK Invest completely liquidated the remaining $200 million worth of GBTC assets.

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