{"id":208027,"date":"2023-12-07T12:23:48","date_gmt":"2023-12-07T06:53:48","guid":{"rendered":"https:\/\/dripp.zone\/news\/cathie-woods-ark-invest-offloads-25m-of-coinbase-3-5m-of-gbtc-shares-crypto-news\/"},"modified":"2023-12-07T12:23:52","modified_gmt":"2023-12-07T06:53:52","slug":"cathie-woods-ark-invest-offloads-25m-of-coinbase-3-5m-of-gbtc-shares-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/cathie-woods-ark-invest-offloads-25m-of-coinbase-3-5m-of-gbtc-shares-crypto-news\/","title":{"rendered":"Cathie Wood’s Ark Invest Offloads $25M Of Coinbase & $3.5M Of GBTC Shares – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Cathie Wood\u2019s investment management firm\u00a0Ark Invest<\/strong> continues profit booking in Coinbase<\/strong>\u00a0(COIN) and\u00a0Grayscale Bitcoin Trust<\/strong> (GBTC) shares as prices continue to hit higher as a result of the market-wide rally backed by BTC price surpassing $44,000.<\/p>\n

Bitcoin bull Cathie Wood reaffirms her bullish stance for BTC price amid speculation of spot Bitcoin ETF approval by the U.S. SEC. BTC price<\/a> currently trading at $44,006, up 1% in the past 24 hours and 16% in a week.<\/p>\n

<\/p>\n

Cathie Wood\u2019s Ark Invest Sells More Coinbase Shares<\/h2>\n

On December 6, Cathie Wood\u2019s Ark Invest sold 180,422 Coinbase (COIN) shares<\/strong> worth $25 million, as per transactions seen by CoinGape.<\/p>\n

ARK Innovation ETF (ARKK) sold 162,579 Coinbase shares, ARK Next Generation Internet ETF (ARKW) offloaded 5,369 COIN shares, and ARK Fintech Innovation ETF (ARKF) sold 12,474 COIN stocks.<\/p>\n

Coinbase (COIN<\/a>) stock price closed 3.97% lower at $134.63 on Wednesday. The price fell for two days consecutively after hitting another high of $147.86<\/strong>. The price rallied more than 300% this year.<\/p>\n

<\/p>\n

On Dec 5, Ark Invest sold 237,572 Coinbase (COIN) shares worth $34 million and offloaded 168,127 Grayscale Bitcoin Trust (GBTC) shares worth $6 million. In addition, Ark funds sold 10,218 Coinbase (COIN) shares<\/a> worth $1.4 million on Dec 4.<\/p>\n

<\/p>\n

Also Read: Terra Classic Community Passes Major Constructive Proposal, LUNC And USTC To $1?<\/a><\/strong><\/p>\n

Cathie Wood Dumps Grayscale Bitcoin Trust Shares<\/h2>\n

Cathie Wood\u2019s Ark Invest offloaded additional holdings in Grayscale Bitcoin Trust (GBTC). ARK Next Generation Internet ETF (ARKW) sold 99,595 GBTC shares<\/strong> worth $3.5 million. Some believe it is a strategy as Ark Invest is also in a race with Grayscale for a spot Bitcoin ETF<\/a>.<\/p>\n

On Dec 5, ARK Next Generation Internet ETF (ARKW) offloaded 168,127 Grayscale Bitcoin Trust shares. ARKW has dumped more than 800,000 GBTC shares<\/a> since October.<\/p>\n

GBTC price has soared 330% YTD, and closed 0.51% lower at $34.92 on Wednesday. It may open slightly lower in pre-market hours on Thursday.<\/p>\n

Also Read: <\/strong>Robinhood Launches Commission-Free Trading for BTC, ETH, SOL, & More in Europe<\/a><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n <\/p>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<\/p>\n

\n
\n
\n
\n
\n<\/p>\n

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry. <\/p>\n<\/p><\/div>\n

\n \"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<\/p><\/div>\n