ARK Invest Sells $8.64M Coinbase Stake After Crypto Exchange's Shares Rally to Record
2025-07-14 09:22:16
Main Idea
ARK Invest sold $8.64 million worth of Coinbase (COIN) shares as the crypto exchange's stock reached record highs, coinciding with bitcoin's all-time high of around $118,000.
Key Points
1. ARK Invest sold 5,596 COIN shares from its Next Generation Internet ETF (ARKW) worth $2.17 million and 16,627 shares from its Innovation ETF (ARKK) worth $6.47 million.
2. Coinbase's stock (COIN) reached a record high above $395 per share during Friday trading.
3. Bitcoin's price surged to an all-time high of around $118,000 at the same time.
Description
ARK Invest sold $8.64 million worth of Coinbase (COIN) shares late last week as the crypto exchange's shares pumped to record highs. Cathie Wood's investment management firm offloaded 5,596 COIN shares from its Next Generation Internet ETF (ARKW) on Friday, worth $2.17 million based on the closing price of $387.06. That followed Thursday's sale of 16,627 shares, worth $6.47 million as of the day's close, from ARK's Innovation ETF (ARKK). COIN touched a record high above $395 during Friday tradin...
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