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Cathie Wood’s Ark Invest sold $12.5M worth of Coinbase shares at a record price of $375.07.
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The stock is up 51% year-to-date following policy shifts and positive sentiment.
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Ark also sold shares of Block Inc., signaling a broader portfolio rebalance.
Ark Cashes Out as Coinbase Hits All-Time High
Ark Invest offloaded $12.5 million in Coinbase stock, selling 33,363 shares from its ARK Innovation ETF. The sale coincided with Coinbase closing at a record $375.07, up more than 5% on the day and 27% over the past week.
Portfolio Management in a Bullish Market
In addition to Coinbase, Ark sold $12.3 million in Block Inc. shares. The move suggests Ark is locking in gains during a strong performance cycle. Coinbase stock is up 51% for the year amid improving U.S. regulatory clarity and broader crypto adoption.
Favorable Policy Climate Fuels Rally
Coinbase’s surge has been supported by bipartisan legislative progress and positive developments for USDC and stablecoins. Other firms like Circle have also seen increased investor interest, contributing to renewed optimism for regulated crypto companies.
