Cathie Wood’s ARK Invest continued selling Coinbase (COIN) shares for the third day in a row, even though the crypto exchange’s share price remained near a 19-month peak.
The investment manager carried out sales of Coinbase shares through its different ETFs, selling 12,474 shares worth $1.7 million of the Fintech Innovation ETF, 5,369 shares valued at $723,000 of the Next Generation Internet ETF, and one substantial amount of 162,579 shares for $21.9 million of the Innovation ETF. ETF.
Closing yesterday at $134.63, Coinbase shares saw an increase of 7% for the week, 55% for the month, and 269% so far this year, hitting an 18-month high, according to data from Yahoo Finance.
Adding to the sale of $33.3 million in Coinbase (COIN) shares on December 5 and $1.4 million on December 4, ARK Invest has divested a total of $59 million in Coinbase shares from your funds this week.
ARK Invest also reduced its holdings in Grayscale Bitcoin Trust (GBTC), selling 99,595 shares valued at just under $3.5 million at the December 6 closing price. GBTC price fell slightly by 0.51% to close at $34.92. This follows ARK’s sale of 168,127 GBTC shares on December 5, worth approximately $5.9 million.
GBTC’s recent stock activity comes amid a notable rise in the value of bitcoin, the trust’s underlying asset.
Over the past week, bitcoin (BTC) has seen a 15% increase, with a 24% increase over the past month and a significant 160% growth year-to-date; Currently, the trading price of bitcoin is around $43,164, according to the latest data from CoinMarketCap.
