Ark Invest offloads another $33 million Coinbase shares, $6 million GBTC amid market rise

Cathie Wood’s Ark Invest sold more Coinbase and Grayscale Bitcoin Trust shares on Tuesday, offloading 237,572 COIN ($33.3 million) and 168,127 GBTC ($5.9 million) amid continued price rises, according to the company’s latest trade filing. Ark sold 28,535 Coinbase shares ($4 million) from its Fintech Innovation ETF, 7,326 ($1 million) from its Next Generation Internet ETF and 201,711 ($28.3 million) from its Innovation ETF in one of its highest daily offloads for the year. Coinbase stock trades at $141.99 in pre-market trading, up around 10% over the past week and 67% over the past month to reach its highest level since April 2022, according to TradingView. The stock is still down around 60% from its all-time high set in November 2021, however. Ark sold 168,127 GBTC shares ($5.9 million) on Tuesday from its Next Generation Internet ETF, following the 94,624 GBTC ($2.8 million) it offloaded on Nov. 24 from the same fund. GBTC shares traded for $35.10 at market close yesterday, according to TradingView, having risen over 11% in the last week and 30% over the past month, mirroring the recent surge in the price of bitcoin. Source