Ark Invest Continues Coinbase Share Sell-Off Amid Bitcoin's Record Highs

Cathie Wood's firm offloads $68.7 million in Coinbase shares, following a $150 million sale last week, as Bitcoin surpasses $70,000.

Ark Invest sold an additional 270,365 Coinbase shares worth $68.7 million across three of its ETFs on Monday, following a $150 million sell-off last week.
Coinbase stock has surged over 10% in the past week, reaching its highest level since December 2021, despite being 26% down from its all-time high.
Bitcoin's price reached new all-time highs, surpassing the $70,000 mark, as Coinbase shares continue to be sold by Ark Invest.
Ark Invest's sell-offs are part of its ETF rebalancing strategy, aiming to prevent any single holding from exceeding 10% of an ETF's portfolio.
Despite the bullish trend in the cryptocurrency market, Coinbase Institutional warns of potential macro headwinds and negative technical factors in the coming weeks.