COIN

Coinbase Stock

Generation

Grayscale Bitcoin Trust

<p>The post <a href="https://coinpedia.org/news/coinbase-stock-sell-off-ark-invest-sells-big-shared-of-coinbase-nearing-200m/" rel="noopener noreferrer nofollow">Coinbase Stock Sell-off ARK Invest Sells Big Shared of Coinbase, Nearing $200M</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>In a dynamic display of investment strategy, ARK Invest, led by Cathie Wood, made significant moves in December, particularly with its holdings in Coinbase (COIN). The investment firm, known for its forward-thinking approach, continued its sell-off of COIN shares, accumulating sales totaling a notable $196.8 million amidst a robust 30% rally since late November.</p>
<h2 class="wp-block-heading" id="h-why-ark-invest-sold-coinbase-shares">Why ARK Invest Sold Coinbase Shares</h2>
<p>While COIN’s value soared, <a href="https://ark-funds.com/funds/arkk/?utm_campaign=idt_arkk&amp;utm_medium=email&amp;_hsmi=285798240&amp;utm_content=idt_1282023&amp;utm_source=IDT" rel="noopener noreferrer nofollow">ARK Investment</a> opted for a strategic reduction in its exposure, aligning with its policy to cap individual company holdings at approximately 10% of its overall portfolio.</p>
<p>ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW) collectively shed 149,780 COIN shares, signaling a calculated approach to managing risk and maintaining a diversified portfolio. Meanwhile, the combined value of these<a href="https://coinpedia.org/uncategorized/cathie-woods-ark-invest-sells-49-2m-coinbase-whats-happening/" rel="noopener noreferrer nofollow"> sales reached</a> $24 million at Wednesday’s closing price.</p>
<h2 class="wp-block-heading" id="h-ark-invest-s-other-smart-moves">ARK Invest’s Other Smart Moves</h2>
<p>In another strategic move, ARK Next Generation Internet ETF (ARKW) divested a significant portion of its <a href="https://coinpedia.org/news/cathie-woods-ark-invest-makes-strategic-portfolio-shifts-selling-coinbase-and-gbtc-while-buying-robinhood/" rel="noopener noreferrer nofollow">holdings</a> in the Grayscale Bitcoin Trust (GBTC), reducing its position by 398,383 shares.&nbsp;</p>
<p>At the same time, they bought more shares (158,334 to be exact) in Block (SQ). Block is a company that lets you make payments with cryptocurrency using its Cash App. They also recently launched a new Bitcoin wallet that you control yourself.</p>
<p>Even though the price difference of GBTC (Grayscale Bitcoin Trust) compared to its actual value increased a bit by 0.33% on Wednesday, reaching 7.9%, it’s still lower than the 12.5% it was at earlier this month. This difference is the smallest it’s been since August 2021, as per data from Ycharts.</p>

Coinbase Stock Sell-off ARK Invest Sells Big Shared of Coinbase, Nearing $200M

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