Ark Invest, owned by Cathie Wood, has decreased its ownership of Coinbase Global Inc. [COIN], selling approximately $43.8 million in shares across three of its core exchange-traded funds, as the crypto platform’s stock trades close to its historical peak.
As detailed in Ark’s most recent trading disclosure, the firm divested a total of 124,892 Coinbase shares on Monday. The majority originated from the ARK Innovation ETF (ARKK), which sold 77,956 shares, followed by 29,802 shares from the ARK Next Generation Internet ETF (ARKW), and 17,134 shares from the ARK Fintech Innovation ETF (ARKF).
According to Yahoo Finance, Coinbase shares ended Monday slightly lower, slipping 0.83% to close at $350.49. Despite the modest decline, COIN has posted a strong 42.12% gain over the past month and is up 41.16% so far this year, supported by improving sentiment in the crypto market and growing investor optimism.
On June 26, Coinbase reached a closing price of $375.07, marking its highest daily finish since going public in April 2021. The recent uptrend has been partly driven by Circle’s market entry, which reinforced confidence in the broader crypto infrastructure space.
The growing optimism around Coinbase has caught analysts’ attention. The price estimate for COIN has increased from $310 to $510, according to experts at renowned trading and research company Bernstein. The upgrade is based on stronger earnings expectations, emerging growth prospects, and a revised valuation framework.
This positive outlook reflects Coinbase’s ongoing advantage from increased cryptocurrency adoption and its broadened range of institutional offerings, which are helping to diversify revenue beyond traditional retail trading.
Although Ark Invest continues to stand out as a leading institutional supporter of crypto-focused equities, its recent sell-off signals a continued approach of actively rebalancing portfolios and securing gains when valuations peak.
Cathie Wood’s investment vehicles have regularly fine-tuned their exposure to Coinbase, aiming to manage risk and reallocate capital toward other high-growth innovation sectors, ensuring flexibility amid evolving market dynamics.
With COIN now hovering near record highs and analyst forecasts climbing even further, market participants are watching closely to determine whether Coinbase can maintain its upward trajectory or if profit-taking might spark short-term fluctuations.
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