Ark sells $33 million worth of Coinbase stock ─ also $5.9 million worth of Grayscale Bitcoin Trust | CoinDesk JAPAN

Cathie Wood’s ARK Invest shares of crypto exchange Coinbase hit a 19-month high on the back of the recent surge in Bitcoin (BTC) , and sold the same stock worth $33 million (approximately 4.8 billion yen, equivalent to 146 yen = 1 dollar) based on the closing price on December 5th.

Ark sold a total of 237,572 Coinbase shares across three different exchange-traded funds (ETFs). Innovation (ARKK), Next Generation Internet (ARKW), and FinTech Innovation (ARKF).

Coinbase stock rose to $147.86 during the day, but closed 0.63% lower at $140.20.

Ark also sold 168,127 units (equivalent to approximately $5.9 million, approximately 860 million yen) of Grayscale Bitcoin Trust (GBTC). GBTC closed at $35.10 on the 5th, its highest price since December 2021.

The investment management firm frequently buys crypto-related stocks at relatively cheap prices and sells them when they show signs of bullish momentum. Bitcoin has risen more than 5% in the past 24 hours, at one point surpassing $44,000 for the first time since April 2022.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Danny Nelson/CoinDesk
｜Original text: Cathie Wood’s ARK Invest Sells $33M of Coinbase Shares, $5.9M of Grayscale Bitcoin Trust