Ark Invest Continues Offloading Coinbase Shares

IconCryptoNewsTerminal Staff12 Jul, 2024

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Ark Invest Continues Offloading Coinbase Shares

Ark Invest, led by Cathie Wood, continues to sell small amounts of Coinbase shares. According to Ark Invest Daily, they sold 2,046 shares ($446,000) on July 12 (local time). Since the end of June, Ark Invest has been gradually selling off its Coinbase holdings. This latest sale brings the total number of shares sold to over 1.4 million. The reason behind Ark Invest's move is unclear, but it may be related to the recent decline in the price of Coinbase shares. The stock has lost over 75% of its value since its peak in November 2021.