ARK Invest Sells $13.5M in Coinbase Shares

ARK Invest’s Ark Innovation ETF (ARKF) has sold 160,887 Coinbase shares worth about $13.5 million.

The decision was made after a jump in the securities of the bitcoin exchange by 34.1% over the past week. Since the beginning of the year, Coinbase shares have risen in price by 137.33%, in the annual period they are traded with a decrease of 54.8%.

In October last year, the management company bought securities of the exchange for the first time since June. In November, ARK Invest structures spent another $21.4 million for these purposes, in December – $3 million and $5 million.

In February 2023, the firm invested $6.7 million and $9.27 million in the platform. By the end of the month, ARK Invest acquired $16.9 million worth of Coinbase shares.