US arc sells $ 12 million equivalent while coinbase stock hits high in 1 year | CoinDesk JAPAN | Coin Desk Japan

ARK Investment, led by Kathy Wood, sold $12 million worth of Coinbase shares today. After the exchange announced a monitoring-sharing agreement with five asset managers that had applied for Bitcoin (BTC) exchange-traded funds (ETFs), its shares had surged to an almost one-year high.

The SEC (U.S. Securities and Exchange Commission) has previously said that a comprehensive oversight sharing agreement is essential for approval of a physical Bitcoin ETF.

Ark owns nearly 11 million shares in Coinbase, making it one of the largest holders. Coinbase shares account for 6.2% of all ARK funds.

According to market data, the average acquisition cost of Coinbase stock by fund is $239.60 for Ark Fintech Innovation ETF (ARKF), $254.65 for ARK Innovation ETF (ARKK) and $242 for ARK Next Generation Internet ETF (ARKW). Presumed.

In early June, Ark bought $21.6 million of Coinbase shares, which had fallen following a lawsuit by the SEC.

Coinbase shares rose nearly 10% to close at $89.15 on Thursday, up 72% since the SEC filing on June 6.

｜Translation: CoinDesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Coinbase stock price and Ark holdings (Ark)
｜Original: Cathie Wood’s ARK Sells $12M Coinbase Shares as COIN Nears Yearly High