ARK Invest Doesn’t Stop: The Company Sells Its Coinbase and Grayscale Bitcoin Trust Shares!

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• Ark Invest continues to capitalize on the market-wide rally supported by BTC surpassing $44,000 by selling Coinbase (COIN) and GBTC shares.
• On December 6, Ark Invest, led by Cathie Wood, sold 180,422 Coinbase (COIN) shares worth $25 million, as seen in transactions reported by COINOTAG.
• Coinbase (COIN) stock closed Wednesday at $134.63, down by 3.97%. The price declined for two days after reaching another high of $147.86.

Cathie Wood’s investment management firm, Ark Invest, rapidly continues to sell its COIN and GBTC shares: Significant amounts have been sold!

ARK is Liquidating COIN and GBTC Assets

Cathie Wood’s investment management firm, Ark Invest, is continuing to capitalize on the market-wide rally supported by BTC surpassing $44,000 by selling shares of Coinbase (COIN) and Grayscale Bitcoin Trust (GBTC).

Bitcoin supporter Cathie Wood reaffirms her bullish stance on the BTC price, supported by the speculation about the approval of a spot Bitcoin ETF by the U.S. SEC. The BTC price is currently trading at $44,006, with a 1% increase in the last 24 hours and a 16% increase weekly.

On December 6, according to transactions observed by COINOTAG, Ark Invest sold 180,422 Coinbase (COIN) shares worth $25 million. ARK Innovation ETF (ARKK) sold 162,579 Coinbase shares, ARK Next Generation Internet ETF (ARKW) sold 5,369 COIN shares, and ARK Fintech Innovation ETF (ARKF) sold 12,474 COIN shares.

The Coinbase (COIN) stock closed at $134.63 on Wednesday, down by 3.97%. The price dropped for two days after reaching another high of $147.86. The price has increased by over 300% this year.

On December 5, Ark Invest sold 237,572 Coinbase (COIN) shares worth $34 million and liquidated 168,127 Grayscale Bitcoin Trust (GBTC) shares worth $6 million. Additionally, Ark funds sold 10,218 Coinbase (COIN) shares worth $1.4 million on December 4.

Cathie Wood is Selling Grayscale Bitcoin Trust (GBTC) Shares

Ark Invest, led by Cathie Wood, has sold additional assets in Grayscale Bitcoin Trust (GBTC). ARK Next Generation Internet ETF (ARKW) sold 99,595 GBTC shares worth $3.5 million, and some believe this is a strategy by Ark Invest competing with Grayscale for a spot Bitcoin ETF.

On December 5, ARK Next Generation Internet ETF (ARKW) sold 168,127 Grayscale Bitcoin Trust shares. ARKW has sold over 800,000 GBTC shares since October. GBTC’s price has increased by 330% this year, closing at $34.92, down by 0.51%, on Wednesday. It could open with a slight decline on Thursday in pre-market hours.