Claim BonusCathie Wood Sells Coinbase Shares As Ark 21Shares Spot Bitcoin ETF Deadline Looms
Cathie Wood’s asset management firm Ark Invest has offloaded additional Coinbase (COIN) shares worth millions as the crypto community awaits to see if spot Bitcoin ETF approval is a “sell the news” event. Ark Invest 21Shares Spot Bitcoin ETF (ARKB) has a final deadline of January 10, 2024 while others have final deadlines between March and May this year.
Cathie Wood’s Ark Invest Sells Coinbase
On Jan 4, Cathie Wood’s Ark Invest sold a total of 26,743 shares worth over $4 million, as per trades seen by CoinGape.
ARK Innovation exchange-traded fund (ETF) (ARKK) sold 26,743 Coinbase shares, the third consecutive selloff this week.
Cathie Wood’s Ark Invest sold a total of 166,183 Coinbase shares worth over $25.3 million on Jan 3 and a total of 3,360 Coinbase shares worth over $580K on Jan 2. ARK Invest funds are offloading Coinbase to buy other shares.
As CoinGape noted earlier Cathie Wood seems to be bearish on Bitcoin and crypto shares for the short term as the SEC is likely to approve spot Bitcoin ETFs, considering it as a ‘sell the news’ event.
Coinbase (COIN) price closed 2.21% higher at $155.60 on Thursday. However, it is again falling by 1.63% in the pre-market hours.
Also Read: Coinbase Vs SEC — US SEC Requests Court To Consider Terra Ruling In Coinbase Suit
Ark 21Shares All Set For Spot Bitcoin ETF
Ark 21Shares, Grayscale, Fidelity, and other Spot Bitcoin ETF issuers submitted 8-A filings with the U.S. Securities and Exchange Commission (SEC). It cleared clouds of likely rejection of spot Bitcoin ETF by the SEC. A flush in open interests in futures and options coupled with Matrixport’ report on spot Bitcoin ETF rejection caused $700 million in liquidations, with $500 million liquidated just in an hour.
Bloomberg ETF analysts Eric Balchunas and James Seyffart said the Bitcoin ETFs are most likely to be approved next week, despite rumors of a decision today.
Also Read: OpenAI Explores Content Licensing Deals With Publishers Amid NYT Legal Woes
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
- Dogecoin ETF by 21Shares Gains Approval to Launch This Week
- Coinbase Pushes Back as CLARITY Act Faces DeFi and Stablecoin Reward Ban Debate
- Tether At Center Stage in US Venezuela Conflict As 80% Oil Revenue Stays in Stablecoin
- Crypto Gains 500M-User Gateway as X Teases Roll Out of Smart Cashtags for Real-Time Price Tracking
- Michael Saylor Posts “Big Orange” — Is Another Massive BTC Purchase Coming Tomorrow?
- Binance Coin Price Target $1,000 as CZ Signals Incoming Crypto Super Cycle
- Bitcoin and XRP Price Prediction Ahead of Supreme Court Tariffs Ruling on Jan 14, 2026
- Crypto Price Prediction Ahead of US CPI Inflation Data- ETH, ADA, Pi Coin
- XRP Price Outlook Ahead of Jan 15 CLARITY Act Vote
- Bitcoin Price Prediction: Digital Gold in Focus Amid US Strategic Crypto Reserve Talks
- Pi Network Price Prediction Ahead of 2026 First Upgrade
