COIN

Cathie Wood&#8217;s ARK Invest has consistently added Coinbase shares to its portfolio in recent months, often purchasing COIN stock on consecutive days during local bottoms. However, Cathie Wood&#8217;s firm has sold its Coinbase holdings for the first time since July last year.



Data from Cathie&#8217;s ARK reveals that the Ark Fintech Innovation ETF [ARKF] sold approximately 160.887k COIN shares, cumulatively valued at around $13.5 million.



<figure class="wp-block-image size-full"><img width="936" height="240" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-549.png" alt="image 549" class="wp-image-294991" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-549.png 936w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-549-300x77.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-549-768x197.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-549-24x6.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-549-36x9.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-549-48x12.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-549-150x38.png 150w" sizes="(max-width: 936px) 100vw, 936px" /><figcaption>Source: <a href="https://cathiesark.com/ark-combined-holdings-of-coin" rel="nofollow noopener" target="_blank">Cathie Wood&#8217;s ARK</a></figcaption></figure>



<h2 id="ark-8217-s-recent-purchases-and-current-holdings">ARK&#8217;s recent purchases and current holdings</h2>



ARK&#8217;s most recent acquisitions occurred on March 9-10, with thousands of shares added to the ARKW and ARKK funds through four transactions. Six other separate &#8220;buy&#8221; transactions took place earlier this month. ARK holds about 10.12 million COIN shares across its ARKK, ARKW, and ARKF funds following the latest sale. The firm&#8217;s aggregate purchase price currently ranges from $239.60 to $254.65.



<figure class="wp-block-image size-full"><img loading="lazy" width="936" height="324" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-550.png" alt="image 550" class="wp-image-294992" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-550.png 936w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-550-300x104.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-550-768x266.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-550-24x8.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-550-36x12.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-550-48x17.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-550-150x52.png 150w" sizes="(max-width: 936px) 100vw, 936px" /><figcaption>Source: <a href="https://cathiesark.com/ark-combined-holdings-of-coin" rel="nofollow noopener" target="_blank">Cathie Wood&#8217;s ARK</a></figcaption></figure>



In addition to ARK&#8217;s sale, Coinbase CEO Brian Armstrong has also been selling COIN shares. Real-time insider transaction data suggests that the total insider sell volume is around $5.87 billion. Industry insiders speculate that the sell-action indicates a lack of confidence in Coinbase stock by the executive.



<figure class="wp-block-image size-full"><img loading="lazy" width="936" height="448" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-551.png" alt="image 551" class="wp-image-294993" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-551.png 936w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-551-300x144.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-551-768x368.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-551-24x11.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-551-36x17.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-551-48x23.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-551-150x72.png 150w" sizes="(max-width: 936px) 100vw, 936px" /><figcaption>Source: <a href="https://www.dataroma.com/m/ins/ins.php?t=y2&amp;am=0&amp;sym=COIN&amp;o=fd&amp;d=d" rel="nofollow noopener" target="_blank">Dataroma</a></figcaption></figure>



Previously, another round of insider selling occurred, with top executives such as the Chief Legal Officer, Chief Accounting Officer, and Chief People Officer disposing of individual COIN holdings.



<figure class="wp-block-image size-full"><img loading="lazy" width="936" height="142" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-552.png" alt="image 552" class="wp-image-294995" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-552.png 936w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-552-300x46.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-552-768x117.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-552-24x4.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-552-36x5.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-552-48x7.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-552-150x23.png 150w" sizes="(max-width: 936px) 100vw, 936px" /><figcaption>Source: <a href="https://www.dataroma.com/m/ins/ins.php?t=y2&amp;am=0&amp;sym=COIN&amp;o=fd&amp;d=d" rel="nofollow noopener" target="_blank">Dataroma</a></figcaption></figure>



Despite these events, Coinbase&#8217;s share price has experienced a rapid 166% increase from its 2023 low of $31.55. Shares closed at $83.99 during Tuesday&#8217;s trading session [March 21], demonstrating that COIN has gradually overcome its 2022 challenges and made progress this year.

Cathie Wood’s ARK Invest sells Coinbase (COIN) shares for the first time since July

Table of Contents

Cryptopolitan_News

Other articles published on Apr 25, 2023

ETH Breaks Below Crucial Support, Crypto Daily TV 25/4/2023

Zimbabwe to Introduce Gold-Backed Digital Currency to Tackle Inflation

Maximizing Crypto Airdrops with Multisend Technology

BTC Prague, the Largest Bitcoin Conference in Europe, to Host 100+ World Class Speakers and Compa...

US DOJ Charges North Korean Bank Official Charged in 2 Crypto Laundering Conspiracies

Binance.US Gives Up On $1B Voyager Acquisition

Join our free newsletter for daily crypto updates!