$COIN Stock Hits All-Time High as Ark Invest Dumps $12.5M in Shares


Cathie Wood's Ark Invest sold $12.5 million worth of $COIN shares on Thursday as the stock reached a new closing high.


$COIN closed up 5.54% at $375.07, marking its highest closing price ever.


The sale came through Ark's Innovation ETF, which offloaded 33,363 #Coinbase shares alongside 189,649 Block Inc. shares worth $12.3 million.


Despite the institutional selling pressure, $COIN has surged 51.06% year-to-date and 27.02% over the past five days.


The rally coincides with positive regulatory developments, including the Senate's passage of the #GENIUS stablecoin bill, which is advancing to the House.


Circle, the $USDC issuer, also jumped 7.56% on Thursday, resuming its rally after pullbacks earlier in the week.


$COIN became the first crypto firm to join the S&P 500 in May, cementing its position as the leading U.S. #cryptocurrency exchange.


The disconnect between institutional selling and retail enthusiasm highlights growing confidence in regulated #crypto infrastructure despite profit-taking from major funds.

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June 27, 2025 at 2:41 PM
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