{"id":68505,"date":"2024-01-08T07:42:02","date_gmt":"2024-01-08T11:42:02","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=68505"},"modified":"2024-01-08T07:42:06","modified_gmt":"2024-01-08T11:42:06","slug":"ark-invest-sells-off-133000-coinbase-shares-as-btc-etf-approval-nears","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ark-invest-sells-off-133000-coinbase-shares-as-btc-etf-approval-nears\/","title":{"rendered":"ARK Invest Sells off 133,000 Coinbase Shares as BTC ETF Approval Nears"},"content":{"rendered":"\n

Cathie Wood's ARK Invest sold 133,823 of its Coinbase shares<\/a> on January 5, bringing the daily closing price from $153.98 to $152.67.<\/p>\n\n\n\n

\"ARK
ARK Invest Sells off 133,000 Coinbase Shares as BTC ETF Approval Nears<\/figcaption><\/figure>\n\n\n\n

A sale of 107,151 Coinbase shares from its ARK Innovation ETF (ARKK), 15,892 shares from its ARK Next Generation Internet ETF (ARKW), and 10,780 shares from its ARK Fintech Innovation ETF (ARKF) were among the trades for January 5 that the United States-based asset management firm disclosed on X (formerly Twitter) on January 8.<\/p>\n\n\n\n

\n

Cathie Wood and Ark Invest's trade activity from today 1\/5. pic.twitter.com\/mJ9Cfxx3Ot\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>— Ark Invest Tracker (@ArkkDaily) January 6, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

The recent divestment of Coinbase shares hovered around $153.98 per share, for a total value of approximately $20.6 million.<\/p>\n\n\n\n

In addition, the company acquired shares of Palantir Technologies<\/use><\/svg><\/span><\/a> and Iridium Communications and divested a portion of its Stratasys holdings.<\/p>\n\n\n\n

Before that, on January 3, 2023, ARK sold 166,000 Coinbase shares valued at approximately $25 million. On December 5, 2023, ARK conducted a second sell-off of 237,000 shares.<\/p>\n\n\n\n

The sale of Coinbase shares by ARK Invest generated approximately $78 million in revenue for December and January.<\/p>\n\n\n\n

Notwithstanding these ongoing divestments of Coinbase shares, ARK maintains a substantial holding of shares in the exchange. Coinbase remains the most significant holding in the ARKK ETF, accounting for 10.04% of the total portfolio. Additionally, it holds the highest value among the assets in the ARKW ETF at 10.37% and the ARKF ETF at 13.41%.<\/p>\n\n\n\n

As the cryptocurrency community anxiously awaits the United States Securities and Exchange Commission's (SEC) decision on whether or not to sanction the first spot Bitcoin exchange-traded fund (ETF) accessible to U.S. investors, the sales occur.<\/p>\n\n\n\n

Wood's ARK Invest is one of fourteen firms that have submitted an application to the SEC for a spot BTC ETF. ARK and 21Shares, a Swiss firm specializing in the exchange-traded products of cryptocurrencies, worked together to develop ARK 21Shares, a spot Bitcoin ETF.<\/p>\n\n\n\n

Before the SEC's December 29 deadline, ARK and 21Shares <\/a>were the first to submit revisions to their spot Bitcoin ETF filings.<\/p>\n\n\n\n

The ARK 21Shares Bitcoin ETF submitted a registration notice to the SEC on January 4. The SEC can grant or reject the ETF application by January 10.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cathie Wood’s ARK Invest sold 133,823 of its Coinbase shares on January 5, bringing the daily closing price from $153.98 to $152.67. A sale of 107,151 Coinbase shares from its ARK Innovation ETF (ARKK), 15,892 shares from its ARK Next Generation Internet ETF (ARKW), and 10,780 shares from its ARK Fintech Innovation ETF (ARKF) were […]<\/p>\n","protected":false},"author":12,"featured_media":68251,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6175,948,150,15240],"class_list":["post-68505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-etf-2","tag-ark-invest","tag-coinbase","tag-coinbase-shares"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/01\/image-29.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/68505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=68505"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/68505\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/68251"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=68505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=68505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=68505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}