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Analysis

Ark Invest sells $3.6 billion worth of Coinbase, GBTC shares in December alone

"U.S. asset manager Ark Investment, led by 'Money Tree Sister' Kathy Wood, sold $3.6 billion worth of Coinbase and Grayscale Bitcoin Investment Trust (GBTC) shares through its funds in December alone," crypto media outlet Blockworks reported today (Dec. 27). As of December 26, Ark sold 1,535,789...

Ark Invest sells $3.6 billion worth of Coinbase, GBTC shares in December alone

"U.S. asset manager Ark Investment, led by 'Money Tree Sister' Kathy Wood, sold $3.6 billion worth of Coinbase and Grayscale Bitcoin Investment Trust (GBTC) shares through its funds in December alone," crypto media outlet Blockworks reported today (Dec. 27). As of December 26, Ark sold 1,535,789 shares of Coinbase in December alone. That's worth about $282.5 million at current prices. The Ark-affiliated fund that sold the most shares of Coinbase was the Innovation ETF (ticker: ARKK). ARKK sold 1,348,527 shares of Coinbase in December, but the stock still makes up the largest portion of the fund's portfolio (10.7%). In addition, ARK's fund, the Next Generation Internet ETF (ticker: ARKW), sold 2,118,186 shares of GBTC this month, valued at approximately $77 million.

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