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

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