Claim BonusArk Invest Sells $25M Coinbase Shares To Buy Elon Musk’s Tesla (TSLA), Cathie Wood Still Bearish
Asset management firm Ark Invest founded by Cathie Wood has offloaded Coinbase (COIN) shares worth millions again amid a crypto market bloodbath on Wednesday. Meanwhile, Cathie Wood’s Ark Invest funds have purchased Elon Musk’s Tesla (TSLA) shares, increasing its holdings as the stock price fell over 4%.
Cathie Wood’s Ark Invest Sells Coinbase, Buy Tesla
On Jan 3, Cathie Wood’s Ark Invest sold a total of 166,183 Coinbase shares worth over $25.3 million, as per trades seen by CoinGape.
ARK Innovation ETF (ARKK) sold 145,048 Coinbase shares and ARK Next Generation Internet ETF (ARKW) offloaded 21,135 COIN shares.
Coinbase (COIN) price closed 2.96% lower at $152.24 on Wednesday. However, it gained momentum on Thursday and is trading at $158.42 at press time. But the stock remains far from its recent high of $187.39.
On Jan 2, Cathie Wood’s Ark Invest sold a total of 3,360 Coinbase shares worth over $580K and 23,606 Robinhood shares worth nearly $300K.
CoinGape reported last week that Cathie Wood seems to be bearish on Bitcoin and crypto shares as the SEC is likely to approve spot Bitcoin ETFs as of January 10, considering it as a ‘sell the news’ event. Moreover, Ark Invest funds will look to continue to offload COIN shares worth millions this month as part of its active fund management strategy, extending its selloff run of the last year.
Also Read: Over 200K Bitcoins Worth $9 Bln On Move Causes Panic, What’s Happening?
Cathie Wood Buys Tesla Shares
Ark Invest funds purchased a total of 105,201 Tesla (TSLA) shares worth nearly $25.3 million, which seems to be funded from Coinbase shares selloff.
ARK Innovation ETF (ARKK) buys 91,194 Tesla shares and ARK Next Generation Internet ETF (ARKW) buys 14,007 TSLA shares.
TSLA price closed at $238.45 on Wednesday, down 4.01%. At press time on Thursday, the stock is trading 0.89% higher at $240.
Also Read: US SEC Argues Terra Ruling Relevant In Binance, Binance.US, CZ Lawsuit
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Crypto News: Strategy Bitcoin Underwater After 30% BTC Crash
- Expert Predicts Ethereum Crash Below $2K as Tom Lee’s BitMine ETH Unrealized Loss Hits $6B
- Bitcoin Falls Below $80K as Crypto Market Sees $2.5 Billion In Liquidations
- Top Reasons Why XRP Price Is Dropping Today
- Will Bitcoin Price Crash in 2026 as Market Volatility Rises?
- Here’s Why MSTR Stock Price Could Explode in February 2026
- Bitcoin and XRP Price Prediction After U.S. Government Shuts Down
- Ethereum Price Prediction As Vitalik Withdraws ETH Worth $44M- Is a Crash to $2k ahead?
- Bitcoin Price Prediction as Trump Names Kevin Warsh as new Fed Reserve Chair
- XRP Price Outlook Ahead of Possible Government Shutdown
- Ethereum and XRP Price Prediction as Odds of Trump Attack on Iran Rise
