Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»EXCHANGE NEWS»Ark Invest continues to reduce holdings of Coinbase (COIN) and GBTC.
EXCHANGE NEWS

Ark Invest continues to reduce holdings of Coinbase (COIN) and GBTC.

By Crypto FlexsDecember 21, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ark Invest continues to reduce holdings of Coinbase (COIN) and GBTC.
Share
Facebook Twitter LinkedIn Pinterest Email

During the sale, Ark Invest strategically acquired 158,334 shares ($12.1 million) of Jack Dorsey’s Block Inc stock for its Next Generation Internet ETF.

Ark Invest, a well-known asset management firm led by Cathie Wood, has been making strategic adjustments to its portfolio, most notably in its trades with Coinbase Global Inc (NASDAQ: COIN) and Grayscale Bitcoin Trust (GBTC).

Ark Invest sold additional Coinbase shares, offloading a total of 149,780 COIN ($24.2 million) from the two funds as the stock hit a yearly high, according to the company’s latest trading filing.

Ark Invest Coinbase Sell

Ark Invest’s decision to sell Coinbase shares is consistent with its ongoing efforts to rebalance the fund’s weightings in response to the recent COIN price surge. As for specific details, the company sold 132,782 shares of Coinbase stock worth $21.5 million in the Innovation ETF and 16,998 shares worth $2.7 million in the Next Generation Internet ETF.

This follows a trend in which Ark Invest divested $5.5 million worth of Coinbase stock just a day earlier. Last month alone, Ark Invest sold more than $200 million worth of Coinbase stock, demonstrating a shift in its investment strategy.

According to TradingView, Coinbase’s recent performance has been impressive. The stock price has increased by 60% in the past month and has jumped by a whopping 344% since the beginning of the year. However, the stock price remains more than 50% lower than the all-time high set in November 2021.

Ark Invest’s latest moves extend to Grayscale Bitcoin Trust, which sold 398,383 shares of GBTC stock ($14.3 million) from its Next Generation Internet fund. This follows the sale of approximately $12.85 million worth of GBTC shares on December 11, reducing ARKW’s GBTC holdings to approximately $112.7 million, constituting a weighting of 6.95%.

GBTC shares closed at $35.83 on Wednesday, reflecting a daily gain of 2.6%, a 23% surge over the past month, and an impressive 336% year-to-date growth. In particular, the price of GBTC also rose along with the surge in the underlying asset value of Bitcoin (BTC), which is currently trading at $44,187.

Ark’s decision to sell prominently GBTC shares could be influenced by GBTC’s recent discount to net asset value (NAV), which has declined from more than 40% in June to about 7.6%, according to YCharts.

Ark Invest Increases Block Stake

During the sale, Ark Invest strategically acquired 158,334 shares ($12.1 million) of Jack Dorsey’s Block Inc (NYSE: SQ) for its Next Generation Internet ETF.

This follows a $26 million purchase of Block stock earlier this week. Block shares closed at $76.11, down 1.6% for the day but up 31% in the past month and 15% year-to-date. The move signals Ark’s confidence in the block’s growth potential, especially after the company reported a 22% increase in Bitcoin gross profits in the third quarter. It is unclear whether Ark Invest will resume COIN accumulation in the future, but Block’s exposure still leaves the company exposed to the cryptocurrency landscape.

As the cryptocurrency market continues to evolve, Cathie Wood’s Ark Invest is at the forefront of aligning holdings to seize opportunities and effectively manage risk.

next

Business News, Investor News, News

thank you!

You have successfully joined our subscriber list.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Analysts expect a breakout of $135 as ETF approval buzz grows.

October 15, 2025

Cardano (ADA) Faces Selling Pressure – Is This the Start of a Trend?

October 12, 2025

Ethereum Price at Risk – Bears Lose Momentum Ahead of New Lows

October 9, 2025
Add A Comment

Comments are closed.

Recent Posts

Billionaire Tim Draper Leads $3.2M Seed Round For Ryder To Replace Seed Phrases With TapSafe Recovery

October 18, 2025

IRANcoin Global Reserve (IRCOIN) launches to reshape global digital payments

October 18, 2025

Fusaka Update – Information for Blob Users

October 18, 2025

6 Best AI Quant Bots To Use In 2025: Smarter Trading Starts Here

October 18, 2025

BTC RSI hits April low as Coinbase premium turns red.

October 18, 2025

The Great Inheritance and Crypto: What you need to know.

October 17, 2025

6 Best AI Quant Bots To Use In 2025: Smarter Trading Starts Here

October 17, 2025

AI and Bitcoin mining stocks soar after OpenAI closes multibillion-dollar chip deal with AMD

October 17, 2025

MEXC Celebrates ZEROBASE (ZBT) Listing With Airdrop+ Event Featuring 55,000 USDT Prize Pool

October 16, 2025

How MasterQuant’s AI Trading Bot Is Becoming Every Investor’s Favorite Trade Machine

October 16, 2025

Seascape Launches First Tokenized BNB Treasury Strategy On Binance Smart Chain

October 16, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Billionaire Tim Draper Leads $3.2M Seed Round For Ryder To Replace Seed Phrases With TapSafe Recovery

October 18, 2025

IRANcoin Global Reserve (IRCOIN) launches to reshape global digital payments

October 18, 2025

Fusaka Update – Information for Blob Users

October 18, 2025
Most Popular

WUFFI and KLAUS rose nearly 50% as global cryptocurrency market caps fell more than 1.4%.

October 27, 2024

Binance Launches New Limited-Time Offer for Earn on Wednesdays

August 7, 2024

Former Bithumb Chairman Lee Jung-hoon acquitted on $100 million fraud charge

January 19, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.