Claim BonusBreaking: Cathie Wood’s Ark Invest Sells $2M Coinbase & $13M GBTC Shares, Buys Meta
Cathie Wood’s investment management firm Ark Invest sold Coinbase (COIN) and Grayscale Bitcoin Trust (GBTC) shares as the crypto market selloff caused $500 million in liquidations. Bitcoin bull Cathie Wood offloading crypto-related shares from Ark Invest funds caused speculation in the market, despite the current bullish sentiment in the crypto community.
Cathie Wood’s Ark Invest Sells Coinbase (COIN) Shares Again
On December 11, Cathie Wood’s Ark Invest sold 13,634 Coinbase (COIN) shares worth nearly $2 million, as per transactions seen by CoinGape.
ARK Innovation ETF (ARKK) sold 10,933 Coinbase shares, ARK Next Generation Internet ETF (ARKW) offloaded 2,483 COIN shares, and ARK Fintech Innovation ETF (ARKF) sold 218 COIN stocks.
Ark Invest funds have been selling Coinbase shares as COIN stock price rallied more than 336% this year. There were concerns in the crypto community about massive selloffs, raising questions about whether Cathie Wood is still bullish on Bitcoin. However, a broader crypto market selloff on Monday cleared the rationale behind Ark Invest’s recent actions.
Coinbase (COIN) stock price fell 5.87% to $138.02 on Monday in response to the crypto market selloff. Traders remained bullish and kept on buying the dips as the price fell near support.
On Dec 8, Cathie Wood’s Ark Invest sold 335,860 Coinbase (COIN) shares worth $49 million.
Also Read: Terra Luna Classic Validator Proposes Unique Burn Mechanism To Revive LUNC To $1
GBTC Also On The Sell List, Buys Meta & Microsoft
Cathie Wood’s Ark Invest funds further offloaded their holdings in Grayscale Bitcoin Trust (GBTC). On Dec 11, ARK Next Generation Internet ETF (ARKW) sold an additional 395,945 GBTC shares worth $13 million. This is the largest selloff of GBTC by Ark Invest as BTC price tumbled 8% to $40,200.
On Dec 8, ARK Next Generation Internet ETF (ARKW) sold an additional 102,672 GBTC shares worth $3.6 million as the price hit another high of $36.23.
Meanwhile, Ark Invest renews its focus on AI and technology. ARKW buys 10,212 Meta Platforms, 8,810 Microsoft, and 23,778 Taiwan Semiconductor shares.
Also Read: Dogecoin (DOGE) Price Under Strong Selling Pressure, Key Support Levels to Watch
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 Market Braces for Deeper Losses as BOJ Board Pushes for More Rate Hikes
- Crypto Prices Drop as U.S. Urges Citizens To Leave Iran
- Japan’s Metaplanet Pledges to Buy More Bitcoin Even as BTC Price Crashes to $60k
- Is Bhutan Selling Bitcoin? Government Sparks Sell-Off Concerns as BTC Crashes
- ‘XRP Treasury’ VivoPower Abandons Crypto Strategy Amid Market Crash, Stock Price Dumps
- Dogecoin, Shiba Inu, and Pepe Coin Price Prediction as Bitcoin Crashes Below $70K.
- BTC and XRP Price Prediction As Treasury Secretary Bessent Warns “US Won’t Bail Out Bitcoin”
- Ethereum Price Prediction As Vitalik Continues to Dump More ETH Amid Crypto Crash
- Why XRP Price Struggles With Recovery?
- Dogecoin Price Prediction After SpaceX Dogecoin-Funded Mission Launch in 2027
- Solana Price Crashes Below $95 for the First Time Since 2024: How Low Will SOL Go Next?
