Bitcoin
Bitcoin (BTC)
$67,077.00 0.76906
Bitcoin price
Ethereum
Ethereum (ETH)
$3,505.11 0.05646
Ethereum price
BNB
BNB (BNB)
$594.86 0.64876
BNB price
Solana
Solana (SOL)
$173.11 1.93371
Solana price
XRP
XRP (XRP)
$0.6014280 2.39918
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000179 0.08637
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000121 -1.64788
Pepe price
Bonk
Bonk (BONK)
$0.0000303 -5.00315
Bonk price
Bitcoin
Bitcoin (BTC)
$67,077.00 0.76906
Bitcoin price
Ethereum
Ethereum (ETH)
$3,505.11 0.05646
Ethereum price
BNB
BNB (BNB)
$594.86 0.64876
BNB price
Solana
Solana (SOL)
$173.11 1.93371
Solana price
XRP
XRP (XRP)
$0.6014280 2.39918
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000179 0.08637
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000121 -1.64788
Pepe price
Bonk
Bonk (BONK)
$0.0000303 -5.00315
Bonk price
Bitcoin
Bitcoin (BTC)
$67,077.00 0.76906
Bitcoin price
Ethereum
Ethereum (ETH)
$3,505.11 0.05646
Ethereum price
BNB
BNB (BNB)
$594.86 0.64876
BNB price
Solana
Solana (SOL)
$173.11 1.93371
Solana price
XRP
XRP (XRP)
$0.6014280 2.39918
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000179 0.08637
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000121 -1.64788
Pepe price
Bonk
Bonk (BONK)
$0.0000303 -5.00315
Bonk price
Bitcoin
Bitcoin (BTC)
$67,077.00 0.76906
Bitcoin price
Ethereum
Ethereum (ETH)
$3,505.11 0.05646
Ethereum price
BNB
BNB (BNB)
$594.86 0.64876
BNB price
Solana
Solana (SOL)
$173.11 1.93371
Solana price
XRP
XRP (XRP)
$0.6014280 2.39918
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000179 0.08637
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000121 -1.64788
Pepe price
Bonk
Bonk (BONK)
$0.0000303 -5.00315
Bonk price

ARK Invest offloads nearly $100m in Coinbase shares despite reassuring that platform ‘executing brilliantly’

ark-invest-offloads-nearly-100m-in-coinbase-shares-despite-reassuring-that-platform-executing-brilliantly
Edited by
News
ARK Invest offloads nearly $100m in Coinbase shares despite reassuring that platform ‘executing brilliantly’

Cathie Wood’s ARK Invest has offloaded more than $97 million in Coinbase (COIN) shares in February alone, according to trading history.

Despite Coinbase‘s impressive Q4 earnings report, which revealed a revenue of $953.8 million, surpassing analysts’ projections, ARK Invest appears to be adhering to its own investment strategy by unloading nearly $100 million in COIN shares.

ARK Invest offloads nearly $100m in Coinbase shares despite reassuring that platform 'executing brilliantly' - 1
ARK Invest trades | Source: CathiesArk

According to data from CathiesArk, ARK Invest made two transactions with COIN shares in February so far, selling more than 544,000 shares valued at over $97 million at the current share price. Cumulatively, ARK Invest has divested nearly $130 million worth of COIN shares since the beginning of the year.

Nevertheless, ARK Invest CEO Cathie Wood remains bullish on Coinbase, saying the platform is “executing brilliantly.” Speaking of Coinbase’s price performance in an interview with Yahoo Finance, Wood also indicated the rally has “just begun,” as the firm best big on the exchange.

“So, we think we have just begun from a price appreciation point of view. This is part of a journey.”

Cathie Wood

As of press time, ARK Invest maintains a position of over 4.8 million COIN shares. Earlier, crypto.news reported that Coinbase’s revenue growth in Q4 2023 surged by 45.2% compared to Q3 2023. Additionally, the company reported a net income of $273 million, or $1.04 earnings per share, significantly exceeding analysts’ expectations.