U.S. Ark sells Coinbase shares for 3 consecutive days – this time worth about $11.5 million | CoinDesk JAPAN

Cathie Wood’s investment firm ARK Invest sold Coinbase stock for the third day in a row as the stock remained solidly within 5% of its year-to-date high.

Ark has acquired a total of 82,255 shares from the Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF), and the closing price on the 12th was approximately $11.5 million (approximately 1.67 billion yen, 1 The equivalent of 145 yen (US dollar = 145 yen) was sold. This month, we have reduced our stake in this crypto asset (virtual currency) exchange on all trading days except for two business days.

Coinbase stock is soaring as Bitcoin (BTC) rises. Bitcoin, the largest crypto asset by market capitalization, is up about 150% this year, while Coinbase stock has nearly quadrupled.

St. Petersburg, Fla.-based Ark Invest’s policy is to keep each ETF’s holdings to a maximum of 10% or less. However, the recent rally in Coinbase stock, which hit its highest price since April 2022 last month, has led to a series of sales, including a $49 million sale on Dec. 8, the largest since July. After that, its weight in three ETFs remains above 10%.

This month, Ark Invest sold more than $120 million (approximately 17.4 billion yen) of Coinbase stock at closing price.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Shutterstock
｜Original text: ARK Invest Sells Coinbase Shares for Third Straight Day