Cathie Wood’s Firm Takes Profit as COIN Hits All-Time High
ARK Invest, the firm led by famed investor Cathie Wood, sold $8.64 million worth of Coinbase (COIN) stock late last week, capitalizing on a powerful rally that sent the cryptocurrency exchange’s shares to record highs above $395.
The strategic sale came as Bitcoin surged to an all-time high of around $118,000, lifting the entire crypto sector and pushing Coinbase’s valuation higher.
Breakdown of the COIN Share Sale
The sell-off was executed in two parts, across ARK’s top exchange-traded funds:
- On Thursday, ARK sold 16,627 shares from its Innovation ETF (ARKK), worth approximately $6.47 million based on the closing price.
- On Friday, the firm sold an additional 5,596 shares from its Next Generation Internet ETF (ARKW), totaling around $2.17 million, using Friday’s close of $387.06 per share.
In total, ARK offloaded 22,223 shares, realizing a combined value of $8.64 million over the two-day period.
Coinbase and Bitcoin Rally in Tandem
Coinbase shares have been on a tear, closely mirroring the performance of Bitcoin (BTC). On Friday, COIN peaked above $395, setting a new all-time high. The price surge coincided with BTC climbing past $118,000, reflecting renewed optimism across both institutional and retail crypto investors.
The broader rally has been fueled by:
- Rising crypto ETF flows
- Improving regulatory sentiment
- Increased institutional adoption of digital assets
ARK’s Strategy: Rebalancing After Gains
ARK Invest is known for actively managing its positions, often trimming winners during rallies to rebalance portfolios and maintain risk-adjusted exposure. The sale does not necessarily signal a bearish stance on Coinbase but reflects profit-taking after an extended bull run.
“ARK remains a long-term believer in disruptive innovation, including crypto infrastructure,” analysts noted in previous fund updates.
Final Thoughts
With Coinbase reaching record valuations and Bitcoin achieving historic highs, ARK Invest’s decision to lock in gains aligns with its disciplined, high-conviction investment model. As the crypto market continues to evolve, further shifts in institutional holdings like this will remain a critical signal for investors watching capital flow in the digital asset space.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.