Ark Invest Sells More than $200 Million in Coinbase Shares in December!

Ark Invest, led by famous investor Cathie Wood, announced in its latest transaction filing that it sold another 80,118 Coinbase (COIN) shares worth approximately $13.5 million.

Ark Invest Continues Coinbase Share Sales, December Sales Exceed 200 Million Dollars

A breakdown of shares sold shows Ark Invest divested 68,769 Coinbase shares from its Innovation ETF, equivalent to $11.6 million. Additionally, 11,349 shares worth $1.9 million were sold from the Next Generation Internet ETF.

This latest sale adds to a significant divestiture of Coinbase shares by Ark Invest earlier in December. The investment management firm sold $108 million and $59 million worth of shares in the first and second weeks of the month, respectively.

With the $30 million in Coinbase shares divested this week, Ark Invest’s total stock sales in December reached approximately $210.5 million.

Coinbase, now valued at just over $30 billion, received regulatory approval from France’s market regulator AMF on the same day as Ark Invest’s share sale.

This approval grants Coinbase a virtual asset service provider license, allowing the platform to provide custody of digital assets, facilitate the purchase and sale of digital assets through legal tender, and trade digital assets against other digital assets within the country.

*This is not investment advice.