What to know:
- ARK Invest sold $8.6 million worth of Coinbase shares as the crypto exchange’s shares hit record highs.
- The investment firm led by Cathie Wood sold a total of 22,223 COIN shares from two of its ETFs.
- COIN climbed to record highs above $395 per share as bitcoin reached an all-time high of around $118,000.
ARK Invest sold $8.64 million worth of Coinbase (COIN) shares as the crypto exchange’s shares pumped to record highs. 🤑
Cathie Wood’s investment management firm offloaded 5,596 COIN shares from its Next Generation Internet ETF (ARKW) on Friday, worth $2.17 million based on the closing price of $387.06. That followed Thursday’s sale of 16,627 shares, worth $6.47 million as of the day’s close, from ARK’s Innovation ETF (ARKK).
COIN touched a record high above $395 during Friday trading as bitcoin ascended to an all-time high of around $118,000. 🚀
Rallies in particular shares often prompt sizeable sales from ARK, which has a target weighting of no particular holding exceeding 10% of an ETF’s total value. 🤔
COIN is priced at $393.50 in pre-market trading at the time of writing, 1.66% higher than its Friday closing price, as BTC‘s surge extended to claim a new all-time high above $122,000. 📈
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2025-07-14 12:16