According to the company’s most recent trade statement, Cathie Wood’s Ark Invest sold an additional 80,118 Coinbase shares yesterday, valued at $13.5 million, from two of its funds as the price maintained its December climb.
Ark sold 11,349 ($1.9 million) from its Next Generation Internet ETF and 68,769 Coinbase shares ($11.6 million) from its Innovation ETF, accounting for the whole amount offloaded on Thursday.
The investment management company has now sold over $210.5 million worth of the stock this month, in addition to the $108 million and $59 million worth of Coinbase shares Ark sold in the first and second weeks of December, respectively, and the $30 million in COIN already offloaded this week.
Coinbase shares increased by 60% last month.
Despite the fact that COIN’s price surged by more than 60% in December, Ark has persisted in rebalancing its fund weightings. Yesterday, Coinbase’s stock closed at $168.03, up 3.8% on the day. According to TradingView, COIN hit its highest point since March 2022 earlier on Thursday when it hit $170.07. Even if Coinbase’s stock has risen by more than 360% so far this year, it is still 51% below its all-time high from November 2021.
The Block’s statistics dashboard indicates that Coinbase is currently valued at slightly over $30 billion.
Yesterday, Coinbase received approval from the AMF, France’s market authority, to get a license to operate virtual asset services. The company will be able to provide custody of digital assets, purchase or sell digital assets using legal cash, and exchange digital assets for other digital assets across the nation thanks to the VASP registration.
