Wood Says ARK Is ‘Taking Profits’ as It Sells $26 Million in COIN
The sale comes a day after ARK sold $50.5 million of the crypto exchange’s stock.
Cathie Wood’s ARK Invest is offloading more Coinbase shares after the stock closed Monday at $105.55, just shy of its one-year high of $107.
A trade disclosure sent out by the growth-focused fund shows that it offloaded 248,838 of COIN, worth just over $26 million, based on Monday’s closing price.
ARK has been selling off its holdings of COIN as the stock continues to perform well. On July 14, it disclosed it had sold 480,000 COIN shares across three funds, based on the day’s closing prices. The previous week as the stock rallied.
“We’re very positive about Coinbase, especially in light of the court ruling for Ripple against the SEC,” . “We’re simply taking profits and reallocating the capital to some laggards.”
Wood recently said that since Elon Musk took it private last year.
Edited by James Rubin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP News Update: RLUSD Connects Conventional and Digital Finance with ADGM Authorization
- Ripple's RLUSD gains ADGM approval as fiat-referenced token, enhancing institutional credibility in a tightly regulated digital finance hub. - Global stablecoin adoption accelerates via Truther's non-custodial Visa card and Klarna's KlarnaUSD, targeting seamless cross-border payments. - Cross River Bank launches unified fiat-stablecoin platform, addressing interoperability challenges in $20T+ annual stablecoin volume markets. - Regulators highlight risks in emerging markets as Brazil, India face systemic
The Federal Reserve’s Change in Policy and Its Impact on New Cryptocurrency Assets
- Fed's 2025 policy shifts drive institutional capital toward Solana as central banks balance inflation control and growth amid uncertainty. - Solana's technical upgrades (Alpenglow, Firedancer) and partnerships with Visa/Western Union enhance cross-border payment infrastructure and institutional credibility. - $37.33M inflows into Solana ETFs contrast with Bitcoin/Ethereum outflows, highlighting its macroeconomic hedge role through scalable DeFi and stablecoin ecosystems. - Growing $16B stablecoin liquidi
The Transformation of the Xerox Campus and Its Impact on Industrial Property in Upstate New York
- New York's $9.8M FAST NY grant aims to redevelop 300 acres of Xerox's Webster campus into a $1B+ industrial hub by 2025. - Infrastructure upgrades at NEAT site focus on road, sewer, and electrical systems to create "shovel-ready" space for advanced manufacturing. - Projected 1M sq ft of industrial space could attract semiconductor and renewable energy firms, leveraging 2% vacancy rate vs. national 7.4%. - Integrated "bluefield" development combines manufacturing with residential/commercial zones, support
Bitcoin’s Sharp Decline: What Causes the Price Swings?
- Bitcoin dropped 32% in late 2025, falling from $126,300 to below $86,000 amid macroeconomic pressures and regulatory uncertainty. - Fed rate cut expectations and stalled CLARITY Act legislation fueled investor panic, while 3.1% inflation and disrupted employment data worsened risk-off sentiment. - Institutional buyers accumulated 18,700 BTC in November, contrasting retail-driven selloffs, as Fear & Greed Index signaled extreme bearishness before partial recovery. - Market analysts highlight the need to b
Trending news
MoreCrypto prices
More
