Investment firm Ark Invest continues to sell off its Coinbase stock, with the latest round of sales surpassing $200 million in December. This comes as the firm's CEO, Cathie Wood, has been reducing the firm's exposure to the cryptocurrency exchange. Ark Invest has been steadily offloading its Coinbase shares since September, when the stock was trading at all-time highs. The firm's sales have coincided with a decline in Coinbase's stock price, which has fallen by over 30% since September. Despite the sell-off, Ark Invest remains one of the largest institutional holders of Coinbase stock, with over 4 million shares still in its portfolio. Wood has previously cited concerns about increased competition in the cryptocurrency space as a reason for reducing Ark Invest's exposure to Coinbase. She has also expressed concerns about the impact of potential regulatory changes on the exchange. Despite the sell-off, Ark Invest's overall exposure to the cryptocurrency market remains significant, with the firm holding large positions in companies like Tesla and Square, which have significant exposure to Bitcoin.
22 грудня 2023
