ARK Invest Continues Selling Coinbase Shares for Third Day

In June, following the lawsuit filed by the SEC against Coinbase, the company purchased a large amount of COIN shares. Since then, due to the continuous increase in the share value, they have started rapid sales.

ARK Invest, led by Cathie Wood, has been on the agenda with constant share sales lately, following the gains from Coinbase (COIN) shares. The company recently continued to sell COIN shares for three consecutive days.

In June, after the SEC filed a lawsuit against Coinbase, ARK Invest announced that it had purchased large COIN shares for the last time. Since this latest purchase, COIN shares have increased by 200%, causing the company to divest shares.

Bitcoin has gained over 150% this year, while Coinbase shares have nearly quadrupled.

ARK Invest also sold $12.85 million worth of Grayscale Bitcoin Trust (GBTC) shares from its Next Generation Internet ETF.

Source: Coindesk

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