ARK Invest Coinbase Share Sale Takes December Total Close to $200M!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Dec 21, 2023 19:25

ARK Invest sold $24 million worth of Coinbase (COIN) stock on Wednesday, bringing its total December sales to $196.8 million. The shares have risen almost 30% since the end of November. ARKK sold 132,782 shares, while ARKW unloaded 16,998. The sales were likely due to ARK’s policy of keeping exposure to individual companies to around 10% of its holdings. COIN remains above that level in both ARKK and ARKW. Additionally, ARKW sold 398,383 shares of the Grayscale Bitcoin Trust (GBTC) and added 158,334 shares of Block (SQ), which recently introduced a new self-custody bitcoin wallet through its Cash App.