ARK Invest Sells $13.4M in Coinbase Shares

The ETF fund ARK Innovation, which is managed by ARK Invest, has sold 135,152 Coinbase securities valued at about $13.4 million.

ARK Invest resumed buying shares in Coinbase in October 2022 after pausing for four months.

Over the next few months, the investment firm continued to increase its holdings of these securities, and only in March 2023 sold a $13.5 million package.

On the same day that Coinbase filed a legal complaint against the SEC – April 6, 2023 – ARK Invest purchased $8.6 million worth of the platform’s securities. Two more transactions of $8.3 million and $7.5 million occurred in May.

The last buy-in occurred on June 6, when the SEC charged Coinbase with an unregistered offering of securities and illegal combining of three markets – resulting in a drop of 9.1% in its share value.