STNE - Even As Bitcoin Charts New All-Time Highs Cathie Wood's Ark Invest Keeps Selling Coinbase Shares — Offloads $68.7M Worth Of Stock | Benzinga
On Monday, Cathie Wood-led Ark Invest made a significant move by selling a large number of shares in Coinbase Global Inc (NASDAQ:COIN), even as Bitcoin (CRYPTO: BTC) hit all-time new highs on the same day.
The COIN Trade(s)
The firm sold a total of 270,365 shares through its flagship ARK Innovation ETF (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW) and Ark Fintech Innovation ETF (NYSE:ARKF) on Monday. The transaction was valued at a whopping $68.71 million. On the same day, Coinbase shares closed 0.95% lower at $254.17.
Ark Invest’s decision to offload Coinbase shares came amid a bullish trend in the cryptocurrency market. On the same day, Bitcoin surged past the $70,000 mark, setting a new all-time high, while Ethereum also crossed the $4,000 mark.
Last week, Ark Invest sold Coinbase shares as ...