Ark Invest, an American investment management firm led by Cathie Wood, has continued selling additional shares in Coinbase (COIN) and Grayscale Bitcoin Trust (GBTC).
On Friday, Ark Invest sold approximately 335,860 Coinbase shares, valued at around $49.2 million. This comes on the heels of last week’s sale of $59 million worth of COIN shares.
In addition to shedding Coinbase shares, Ark Invest also divested 102,672 GBTC shares on Friday, amounting to approximately $3.6 million. This move coincided with the rise in Bitcoin prices, which surpassed $44,000 before undergoing a correction today.
The consecutive sales of Coinbase and GBTC holdings indicate Ark Invest’s ongoing adjustments to its portfolio in response to market conditions and potential shifts in investment strategy.
