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By Jamie Crawley|Edited by Parikshit Mishra
Jul 1, 2025, 8:14 a.m.
- ARK Invest offloaded nearly $43.8 million worth of shares of crypto exchange Coinbase on Monday.
- The sale follows similar moves last week for a total of 270,984 COIN shares offloaded in the last three trading days.
- Coinbase shares surged to a record high of over $380 on June 26, which necessitated the sales from ARK.
ARK Invest offloaded nearly $43.8 million worth of shares of cryptocurrency exchange Coinbase (COIN) on Monday.
The sale follows similar moves last week for a total of 270,984 COIN shares offloaded in the last three trading days, worth just under $95 million based on Monday’s closing price of $350.49.
STORY CONTINUES BELOW
Coinbase shares surged to a record high of over $380 on June 26, which necessitated the sales from ARK. Cathie Wood’s investment managing firm has a target weighing of its exchange-traded funds (ETFs), whereby no individual holding exceeds 10% of its total value.
This leads to a trend of ARK selling large numbers of particular shares when their prices rally and acquiring them when they dip.
ARK holds COIN in three of its ETFs: Innovation (ARKK), Next Generation Internet (ARKW) and Fintech Innovation (ARKF).
Read More: ARK Invest Continues to Dump Circle Shares, Buys Robinhood and Coinbase
Jamie has been part of CoinDesk’s news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
