Summary
- ARK Invest reported selling more than 119,000 shares of Coinbase (COIN), totaling about $19 million.
- ARK Invest said it has frequently adjusted its Coinbase weighting through its actively managed ETFs in line with market volatility.
- Coinbase shares have repeatedly fluctuated amid U.S. crypto regulation discussions and market volatility, it said.
ARK Invest, led by Cathie Wood, has made a large-scale sale of Coinbase (COIN) shares. The move is drawing market attention as it comes shortly after additional purchases.
According to Decrypt, a crypto-focused media outlet, on the 6th (local time) ARK Invest sold more than 119,000 shares of Coinbase. The sale totaled about $19 million.
ARK Invest has held Coinbase shares through its actively managed ETFs and has frequently adjusted its weighting in response to market volatility. It had also added to its Coinbase position just a few days ago.
Coinbase shares have been swinging recently amid U.S. discussions over crypto regulation and broader market volatility. As a result, short-term trading by institutional investors appears to be increasing.
ARK Invest did not provide a separate official comment regarding the sale.
JH Kim
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