Cathie Wood’s Ark Invest sold an additional 80,118 shares of Coinbase stock, worth $13.5 million, from two of its funds yesterday as the stock continued its December surge, according to the company’s latest trading filing.
Of the total shares sold on Thursday, Ark sold 68,769 shares ($11.6 million) of Coinbase stock in the Innovation ETF and 11,349 shares ($1.9 million) in the Next Generation Internet ETF.
In addition to the $108 million and $59 million worth of Coinbase shares Ark sold in the first and second weeks of December, respectively, and the $30 million COIN already sold this week, the investment management firm now has approximately $200 million in assets. Sold $10.5 million worth of stock. this month.
Coinbase stock price rose 60% last month
ARK continued to readjust the fund’s proportion amid a surge in coin prices in December, rising more than 60% over the past month. Coinbase shares closed yesterday at $168.03, up 3.8% for the day. COIN reached $170.07 early Thursday, its highest level since March 2022, according to TradingView. Coinbase shares are up more than 360% year to date, but the stock is still trading 51% below its all-time high in November 2021.
Coinbase is currently worth just over $30 billion, according to The Block’s data dashboard.
Coinbase yesterday received approval from French market regulator AMF to secure its virtual asset service provider license. VASP registration allows companies to manage digital assets, buy or sell digital assets with fiat currency, and trade digital assets with other digital assets in the country.
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