Ark sells $25 million worth of Coinbase stock | CoinDesk JAPAN

On January 3, ARK Invest, led by Cathie Wood, acquired approximately $25 million worth of coins from two exchange-traded funds (ETFs). I sold my Coinbase shares.

Ark sold a total of 166,183 Coinbase shares from the Innovation ETF (ARKK) and Next Generation Internet ETF (ARKW), with a closing price of $25.3 million.

Coinbase’s NASDAQ-listed stock fell 2.96% to $152.24 on the 3rd, but this was because the rise in the crypto asset (virtual currency) market stopped and Bitcoin (BTC) slumped, causing the market to overheat. There was also the impact of a sharp decline.

Ark’s ETFs are set so that individual holdings do not exceed 10% of the fund’s total value. Coinbase stock, which has more than doubled in price in the last three months of 2023, has consistently exceeded its thresholds on both ARKK and ARKW, leading to periodic sales of shares by Ark.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Shutterstock
｜Original text: Cathie Wood’s ARK Invest Offloads $25M of Coinbase Shares