Cathie Wood’s Ark Invest offloads additional $4 million in Coinbase shares

Quick Take

  • Ark Invest sold another 26,743 Coinbase shares on Thursday with the stock closing up 2.21% at $155.6.

Cathie Wood’s Ark Invest sold another 26,743 Coinbase Global Inc. shares — valued at $4.1 million — on Thursday, just a day after it offloaded $25.3 million worth of Coinbase shares.

Ark Invest continued its selling spree for Coinbase through its ARK Innovation ETF on Thursday, according to its daily trade disclosure. The ETF bought 132,955 shares of Recursion Pharmaceuticals, a deal valued at around $1.48 million, on the same day.

The firm’s ETFs have offloaded over $200 million in Coinbase shares over the past few weeks.


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Coinbase stock closed up 2.21% at $155.6 on Thursday. It has risen over 360% over the past year.

This week, Coinbase started to follow other crypto exchanges in requiring its UK users to fill out a risk-acknowledgment form in light of guidelines from the nation’s financial regulator.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Timmy Shen is an Asia editor for The Block. Previously, he wrote about crypto and Web3 for Forkast.News from Taiwan after spending more than three years in Beijing covering finance and current affairs at Caixin Global and Chinese tech at TechNode. His China-related reporting has also appeared in The Guardian. When he's not chasing headlines, you'll find him savoring hot pot and shabu shabu in a Taipei local haunt. Timmy holds an MS degree from Columbia University Graduate School of Journalism. Send tips to [email protected] or get in touch on X/Telegram @timmyhmshen.