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Cathie Wood’s <a href="https://crypto.news/tag/ark/">ARK Invest</a> continued to sell <a href="https://crypto.news/exchanges/coinbase/">Coinbase</a> (COIN) shares for the third consecutive day, despite the crypto exchange’s share price hovering near a 19-month peak. 
The investment management company carried out sales of Coinbase shares through its different ETFs, selling 12,474 shares worth $1.7 million from the Fintech Innovation ETF, 5,369 shares valued at $723,000 from the Next Generation Internet ETF, and a substantial 162,579 shares for $21.9 million from the Innovation ETF. 
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 Cathie Wood and Ark Invest's trade activity from today 12/6 <a href="https://t.co/bfl0E48ynL" target="_blank">pic.twitter.com/bfl0E48ynL</a>— Ark Invest Daily (@ArkkDaily) <a href="https://twitter.com/ArkkDaily/status/1732601384292245545?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 7, 2023</a>
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Closing at $134.63 yesterday, Coinbase stock saw a 7% rise over the week, 55% over the month, and a 269% increase year-to-date, reaching an 18-month high, as per Yahoo Finance <a href="https://finance.yahoo.com/quote/COIN/" target="_blank" rel="noopener">data</a>. 
Adding to the sale of <a href="https://crypto.news/ark-invest-sells-33m-in-coinbase-shares-5-9m-in-gbtc/">$33.3 million in Coinbase (COIN) shares </a>on Dec. 5 and $1.4 million on Dec. 4, ARK Invest has divested a total of $59 million in Coinbase shares from its funds over this week. 
 You might also like: <a href="https://crypto.news/ark-invest-offloads-gbtc-shares-grayscale-bitcoin/"> ARK Invest offloads GBTC shares amid Grayscale’s Bitcoin ETF application battle </a> 
ARK Invest also reduced its holdings in the <a href="https://crypto.news/grayscale-updates-gbtc-agreement-for-first-time-since-2018/" data-type="link" data-id="https://crypto.news/grayscale-updates-gbtc-agreement-for-first-time-since-2018/">Grayscale Bitcoin Trust</a> (GBTC), selling 99,595 shares valued at just under $3.5 million at the closing price on Dec. 6. GBTC’s price dipped slightly by 0.51% to close at <a href="https://finance.yahoo.com/quote/GBTC/" target="_blank" rel="noopener">$34.92</a>. This follows ARK’s sale of 168,127 GBTC shares on Dec. 5, worth about $5.9 million. 
The recent activity in GBTC shares comes amidst a <a href="https://crypto.news/qcp-capital-bitcoins-path-to-69k-hinges-on-post-etf-volume/">notable surge </a>in the value of bitcoin, the underlying asset of the trust. 
Over the past week, bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) has seen a 15% rise, with a 24% increase over the past month and a significant 160% growth year-to-date—currently, bitcoin’s trading price hovers around $43,164, as per the latest <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener">data </a>from CoinMarketCap. 
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 BTC 24-hour price chart | Source: CoinMarketCap
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 Read more: <a href="https://crypto.news/bitcoins-massive-rally-wiped-out-6b-in-short-positions-in-2023/"> Bitcoin’s massive rally wiped out $6b in short positions in 2023 </a>

ARK Invest offloads another $24.3m in Coinbase shares, $3.5m in GBTC

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