Please enter CoinGecko Free Api Key to get this plugin works.
Please enter CoinGecko Free Api Key to get this plugin works.
HomeCrypto NewsCathie Wood's ARK Invest Sold $95M of Coinbase Shares After COIN's Surge...

Cathie Wood’s ARK Invest Sold $95M of Coinbase Shares After COIN’s Surge to Record Highs

-

Spread the love

ARK Invest offloaded nearly $43.8 million worth of shares of cryptocurrency exchange Coinbase (COIN) on Monday.

The sale follows similar moves last week for a total of 270,984 COIN shares offloaded in the last three trading days, worth just under $95 million based on Monday’s closing price of $350.49.

jwp-player-placeholder

Coinbase shares surged to a record high of over $380 on June 26, which necessitated the sales from ARK. Cathie Wood’s investment managing firm has a target weighing of its exchange-traded funds (ETFs), whereby no individual holding exceeds 10% of its total value.

This leads to a trend of ARK selling large numbers of particular shares when their prices rally and acquiring them when they dip.

ARK holds COIN in three of its ETFs: Innovation (ARKK), Next Generation Internet (ARKW) and Fintech Innovation (ARKF).

Read More: ARK Invest Continues to Dump Circle Shares, Buys Robinhood and Coinbase

LATEST POSTS

Is Crypto Ready for Q-Day?

Are you ready for Q-Day? Do you even know what Q-Day is? If you don't, you're sleepwalking into a digital apocalypse that's not coming—it's already...

10 Mind-Blowing Solana AI Projects Powering the Future – Check NOW! (July 2025)

Okay so—imagine if AI was the genius, and blockchain was the vault. Together? They’re the dream team. 🧬+🔐=💥 AI is doing all the brain work: making...

GENIUS Act Lacks ‘Necessary Guardrails’ For Investor Protection, NYAG Letitia James Tells Congress

New York Attorney General Letitia James sounded the alarm on the U.S. Senate’s stablecoin bill, warning Congress on Monday that the Guiding and Establishing National...

Arbitrum (ARB) Price Prediction: ARB Eyes Bullish Reversal as Technical Levels and Fundamentals Align for Recovery

Arbitrum (ARB) shows signs of recovery after an 85% drawdown, with key technical levels and improving fundamentals pointing to a potential bullish reversal. Arbitrum has taken...

Most Popular