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 <p class="is-style-lead">Cathie Wood’s ARK Invest continued to sell Coinbase (COIN) <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> for the third consecutive day, despite the crypto exchange’s <a rel="dofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a> price hovering near a 19-month peak.</p> 
 <p>The investment management company carried out sales of Coinbase <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> through its different ETFs, selling 12,474 <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> worth $1.7 million from the Fintech Innovation ETF, 5,369 <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> valued at $723,000 from the Next Generation Internet ETF, and a substantial 162,579 <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> for $21.9 million from the Innovation ETF.</p> 
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    <p lang="en" dir="ltr">Cathie Wood and Ark Invest's trade activity from today 12/6 pic.twitter.com/bfl0E48ynL</p>— Ark Invest Daily (@ArkkDaily) December 7, 2023
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 <p>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 data.</p> 
 <p>Adding to the sale of $33.3 million in Coinbase (COIN) shares 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.</p> 
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> ARK Invest offloads GBTC shares amid Grayscale’s Bitcoin ETF application battle 
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 <p>ARK Invest also reduced its holdings in the Grayscale Bitcoin Trust (GBTC), selling 99,595 <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> 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 $34.92. This follows ARK’s sale of 168,127 GBTC <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> on Dec. 5, worth about $5.9 million.</p> 
 <p>The recent activity in GBTC <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> comes amidst a notable surge in the value of bitcoin, the underlying asset of the trust.</p> 
 <p>Over the past week, bitcoin (BTC) 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 data from CoinMarketCap.</p> 
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   <img decoding="async" width="898" height="495" src="https://cdn.thebittimes.com/images/2023/12/07/0b987f3ec4e8bb45e5330bb35ad3dbb3.webp" alt="ARK Invest offloads another $24.3m in Coinbase shares, $3.5m in GBTC - 1"> 
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   BTC 24-hour price chart | Source: CoinMarketCap
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Bitcoin’s massive rally wiped out $6b in short positions in 2023 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/ark-invest-offloads-another-24-3m-in-coinbase-shares-3-5m-in-gbtc-tbt72918.html">https://thebittimes.com/ark-invest-offloads-another-24-3m-in-coinbase-shares-3-5m-in-gbtc-tbt72918.html</a></p>

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

TheBitTimes

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