Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Ark Invest sells additional $31 million worth of Coinbase shares amid price surge

Ark Invest sells additional $31 million worth of Coinbase shares amid price surge

The BlockThe Block2024/03/05 10:24
By:James Hunt

Cathie Wood’s Ark Invest offloaded another 134,749 Coinbase shares on Monday — worth $30.9 million.COIN surged a further 11% to $229.15 as of market close yesterday — the highest level in more than two years.

Ark Invest sells additional $31 million worth of Coinbase shares amid price surge image 0

Cathie Wood’s Ark Invest sold 134,749 Coinbase shares across three of its exchange-traded funds on Monday, worth $30.9 million, according to the company’s latest trade filing.

To break it down, Ark Invest offloaded 72,871 shares ($16.7 million) from its Innovation ETF, 11,015 shares ($2.5 million) from its Next Generation Internet ETF, and 50,863 shares from its Fintech Innovation ETF ($11.7 million) — out of the total Coinbase shares sold yesterday.

The investment management firm also sold $45 million worth of Coinbase stock last week as it continues to rebalance its fund weightings amid a surge in COIN’s price.

Coinbase stock traded at $229.15 at market close on Monday, up more than 11% for the day, according to TradingView. COIN is up 80% over the last month and 270% over the past year but remains 33% down from an all-time high of $342.98, set in November 2021.

COIN/USD price chart. Image: TradingView .

Coinbase is currently valued at $42.6 billion, according to The Block’s data dashboard .

Coinbase stock hits highest level in two years despite second platform glitch in five days

The surge in Coinbase’s share price yesterday saw the stock hit the highest level since January 2022, despite the crypto exchange experiencing its second zero balance platform glitch in five days.

"We are aware some users may experience increased latency ... and a few users may see intermittent zero balance," Coinbase posted on X. "Rest assured, your funds are safe. Our team is investigating this issue and will provide an update. Trading is not impacted at this time," it added, later issuing a fix.

Last Thursday, the U.S.-based exchange reported that heavy traffic caused the same technical glitch to occur. "We had modeled a ~10x surge in traffic and load tested it. This exceeded that number. It's expensive to keep services over-provisioned, but we'll need to keep working on auto-scaling solutions, and killing any remaining bottlenecks,” Coinbase CEO Brian Armstrong explained at the time.


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — HOLO/USDT!

Bitget Announcement2025/09/12 07:46

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA2025/09/12 06:14
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA2025/09/12 06:14
OPEN has dropped by 189.51% within 24 hours during a significant market pullback

New spot margin trading pair — LINEA/USDT!

Bitget Announcement2025/09/11 10:04