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Ark Invest Continues Liquidating Crypto Investments

Selling Stakes in Coinbase and Grayscale Bitcoin Trust

Ark Invest, the investment firm led by star fund manager Cathie Wood, has been actively trimming its crypto stakes in popular cryptocurrency companies like [Coinbase](https://coinbase.com) and the [Grayscale Bitcoin Trust](https://ark-funds.com/).

Latest Coinbase Share Sales

According to recent disclosures, Ark Invest sold 149,780 [Coinbase(COIN)](https://twitter.com/NASDAQ/status/1480837860640310786) shares worth $24.2 million. The sales came from two Ark funds, with 132,782 shares sold from the Innovation ETF and 16,998 shares from the Next Generation Internet ETF. This followed a $5.5 million sale of Coinbase shares the previous week. In total, Ark’s Coinbase stock sales have exceeded $200 million over the past month.

Divesting From Grayscale Bitcoin Trust

Ark Invest has also been divesting from the Grayscale Bitcoin Trust, a popular crypto investment vehicle. Most recently, Ark sold 809,441 GBTC shares worth $27.6 million from the Next Generation Internet ETF. That represented the largest GBTC sale from Ark in over a year. Additional GBTC share sales were reported later that same week totaling $14.9 million.

Recent Crypto Investments

Despite the recent crypto share sales, Ark has been active buyers of other cryptocurrency stocks. Ark Invest purchased over 500,000 shares of [Block (SQ)](https://squareup.com/), the payment processing company founded by Jack Dorsey, for a total of $37.8 million. Block stock now represents one of Ark’s largest holdings by market value.

Overall, Ark’s recent actions suggest a shift away from crypto infrastructure plays like Coinbase and GBTC, and toward companies leveraging blockchain technology to disrupt traditional industries. As the crypto market continues to mature, investors should expect other strategic portfolio shifts from Ark and other crypto investment firms.


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