ARK Make investments offered $8.64 million value of Coinbase (COIN) shares late final week because the crypto trade’s shares pumped to document highs.
Cathie Wooden’s funding administration agency offloaded 5,596 COIN shares from its Subsequent Technology Web ETF (ARKW) on Friday, value $2.17 million based mostly on the closing worth of $387.06. That adopted Thursday’s sale of 16,627 shares, value $6.47 million as of the day’s shut, from ARK’s Innovation ETF (ARKK).
COIN touched a document excessive above $395 throughout Friday buying and selling as bitcoin ascended to an all-time excessive of round $118,000.
Rallies particularly shares typically immediate sizeable gross sales from ARK, which has a goal weighting of no specific holding exceeding 10% of an ETF’s whole worth.
COIN is priced at $393.50 in pre-market buying and selling on the time of writing, 1.66% larger than its Friday closing worth, as BTC’s surge prolonged to say a brand new all-time excessive above $122,000.
