Cathie Wood’s Ark Invest Sells Coinbase And GBTC, Buys Tesla, Meta & Block Shares

Cathie Wood’s asset management firm Ark Invest further offloaded holdings in Coinbase and Grayscale Bitcoin Trust. The move comes as COIN and GBTC prices hit another 52-week high, as well as outperforming Bitcoin and Nasdaq-100 year-to-date (YTD). Cathie Wood’s funds also grabbed Tesla, Meta, and Jack Dorsey’s Block Inc shares.

Ark Invest’s Coinbase and GBTC Selling Spree

On December 20, Cathie Wood’s Ark Invest sold 149,780 Coinbase (COIN) shares worth approx $25 million and 398,383 Grayscale Bitcoin Trust (GBTC) shares worth over $14 million, as per transactions seen by CoinGape.

ARK Innovation ETF (ARKK) sold 137,782 Coinbase shares and ARK Next Generation Internet ETF (ARKW) offloaded 16,998 COIN shares.

Coinbase (COIN) price closed 0.43% higher at $161.86 on Wednesday after hitting another 52-week high of $169.48. The crypto stocks’ prices are moving higher amid spot Bitcoin ETF approval in early January and a renewed crypto market rally.

On Dec 19, ARK Innovation ETF (ARKK) and the ARK Next Generation Internet ETF (ARKW) sold 34,261 Coinbase shares worth $5.5 million.

Despite bullish crypto sentiment and the U.S. Fed’s dovish stance, Cathie Wood has offloaded Coinbase shares worth millions since July this year as part of its active management strategy.

Also, ARK Next Generation Internet ETF (ARKW) sold an additional 398,383 GBTC shares on Wednesday after the massive 809,441 Grayscale Bitcoin Trust (GBTC) shares worth $28 million on Monday.

GBTC price closed 2.56% higher at $35.83 after making a 52-week high of $36.56. The price has now rallied nearly 350% YTD.

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Ark Buys Tesla, Meta, Block Stocks

On Dec 20, Ark Invest purchased Elon Musk’s electric vehicle Tesla (TSLA) shares after 8 months. ARK Innovation ETF (ARKK) bought 93,965 TSLA shares and ARK Next Generation Internet ETF (ARKW) purchased 17,422 TSLA shares.

In addition, ARK Fintech Innovation ETF (ARKF) further increased its holdings of Meta Platforms (META) by 16,271 shares worth $5.6 million.

Also, ARK Next Generation Internet ETF (ARKW) purchased 158,334 Block Inc (SQ) shares on Wednesday. Last week, ARKW bought 347,692 SQ shares valued at over $27 million.

SQ price fell 1.55% on Wednesday, closing at $76.11. Block Inc stock price jumped 6.33% last week with a potential to continue moving higher.

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