Ark Invest Capitalizes on Coinbase’s Peak with $90M Share Sale

Tony Pearce News
Reading Time: < 1 minute

Cathie Wood’s Ark Invest seized the opportunity to lock in profits, selling $90.58 million worth of Coinbase (COIN) shares just days after the cryptocurrency exchange hit a record high.

The sale, executed across three Ark ETFs on Monday, came as Coinbase benefited from bullish momentum following the US House’s approval of a major crypto regulatory bill.

Breaking Down the Sale:

  • ARKK (Innovation ETF) unloaded 174,746 shares
  • ARKW (Next-Gen Internet ETF) sold 27,663 shares
  • ARKF (Fintech ETF) disposed of 16,577 shares

Coinbase’s stock had soared past $437 last Friday but dipped slightly to $413.63 by Monday’s close. The trading app also saw renewed interest, climbing back into Apple’s App Store top 100—a milestone it hadn’t reached since January.

facebookShare on Facebook
TwitterTweet