Posted 12/11/2023, 9:47:00 AM
ARK Invest Sells $50 Million in Coinbase Shares Despite Bitcoin Rally
- Cathie Wood's ARK Invest sold 335,860 Coinbase shares on Friday across 3 ETFs, its largest Coinbase sale since July
- The sale raised $49.2 million at Coinbase's closing share price of $146.62
- ARK has been making consistent Coinbase sales amid its recent stock price rally alongside bitcoin
- Even after the sales, Coinbase remains over 10% of 3 ARK ETFs due to its weighting rules
- ARK also sold 102,672 Grayscale Bitcoin Trust shares worth $3.6 million on Friday