Ark Invest Sells Crypto Shares – What’s Next in Their Portfolio?

Cathie Wood's Ark Invest firm made strategic adjustments, reducing holdings in Coinbase and Grayscale Bitcoin Trust as both reached 52-week highs, outperforming Bitcoin and Nasdaq-100 this year.

Wood diversified by acquiring Tesla, Meta, and Block Inc shares.

On December 20, Ark Invest sold $25 million worth of Coinbase (COIN) shares (149,780) and over $14 million in Grayscale Bitcoin Trust (GBTC) shares (398,383) according to CoinGape.

Coinbase closed at $161.86, up 0.43%, hitting $169.48, a new high. The rise coincides with expectations for a spot Bitcoin ETF in January, driving crypto stocks.

Despite bullish sentiment and a friendly Fed, Wood actively reduced Coinbase shares since July, reflecting active management.

ARKW sold 398,383 GBTC shares, following a prior 809,441 sell-off worth $28 million. GBTC closed 2.56% higher at $35.83, up nearly 350% YTD.

Ark Invest re-entered Tesla (TSLA) shares after 8 months, with ARKK buying 93,965 shares and ARKW purchasing 17,422.

ARKF increased Meta Platforms (META) shares by 16,271, valued at $5.6 million.

ARKW bought 158,334 Block Inc (SQ) shares on Wednesday, adding to last week’s 347,692 SQ shares totaling $27 million.

SQ dropped 1.55% to $76.11, while Block Inc surged by 6.33% last week, signaling potential for further growth.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.