{"id":542313,"date":"2023-07-12T10:09:13","date_gmt":"2023-07-12T10:09:13","guid":{"rendered":"https:\/\/wncen.com\/?p=542313"},"modified":"2023-07-12T10:09:13","modified_gmt":"2023-07-12T10:09:13","slug":"coinbase-stock-surges-nearly-10-despite-cathie-woods-ark-invest-12-million-sale","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/coinbase\/coinbase-stock-surges-nearly-10-despite-cathie-woods-ark-invest-12-million-sale\/","title":{"rendered":"Coinbase Stock Surges Nearly 10% Despite Cathie Wood\u2019s Ark Invest $12 Million Sale"},"content":{"rendered":"

Coinbase, one of the leading cryptocurrency exchanges has experienced a surge in its stock price, despite a large sale of shares by Cathie Wood’s Ark Investment Management LLC. <\/span><\/p>\n

On July 11, Ark Investment Management sold<\/a> approximately 135,152 Coinbase shares, worth around $12 million. <\/span>This marked Cathie Wood’s first sale of Coinbase shares since July 26, after nearly 11 months of consistently buying up the stock.<\/span><\/p>\n

Cathie Wood’s Ark Investment Management Sells Significant Stake In Coinbase<\/span><\/h2>\n

Cathie Wood’s investment in Coinbase solidified Ark Investment Management as one of the major stakeholders, ranking fourth in terms of Coinbase<\/a> shares held. However, the recent sale by Ark Investment Management suggests a shift in strategy as the firm decided to put a pause on its buying spree.<\/span><\/p>\n

Related Reading: SEC Sues Binance, Coinbase Then BlackRock Files For Bitcoin Spot ETF; Is This An Inside Job?<\/a><\/div>\n

Notably, Cathie Wood’s Coinbase stock\u00a0buying frenzy came at a time when the crypto market was in a period of uncertainty, specifically during the regulatory scrutiny from the US Securities and Exchange Commission (SEC), the fallout from the FTX exchange, and an increase in bankruptcy cases which cast a shadow over investor sentiment.<\/span><\/p>\n

Though there are no specific reasons why Cathie Wood has decided to sell a large portion of its Coinbase shares, this move can be attributed to being a reflection of a calculated response to the current market conditions<\/a>.<\/span><\/p>\n

Over the past month, the US regulator has intensified its scrutiny of the industry and this intensification has impacted even larger players in the industry such as Binance and Coinbase<\/a>. Both exchanges saw the US SEC file a lawsuit against them over the alleged offering of unregulated securities.<\/p>\n

COIN Buck The Trend<\/h2>\n

Despite the large sale of Coinbase’s shares<\/a> by Ark Investment Management, the market reacted unexpectedly as the stock price defied expectations and surged by nearly 10% in just one day. Particularly, over the past 24 hours, Coinbase shares saw an increase of 9.78%, reflecting a positive investor sentiment.<\/p>\n

The stock has seen an increase from the $46 level which it traded at early in June, to trading at a price of $91.54, at the time of writing. <\/span>The performance of Coinbase’s stock is noteworthy, considering the context of the crypto market.<\/span><\/p>\n

\"Coinbase
Coinbase stock price is moving sideways on the 4-hour chart. Source: COIN on TradingView.com<\/a><\/figcaption><\/figure>\n

Since the beginning of the year, Coinbase’s stock has been on an upward trajectory, with its stock surging more than 150%<\/a>. This increase has outpaced the overall cryptocurrency market, which has gained around 50% in the same period.<\/span><\/p>\n

Related Reading: Coinbase Stock Soars Nearly 12% As BlackRock Reveals Surveillance Partnership<\/a><\/div>\n

Coinbase’s performance reflects the confidence of investors in the platform and its ability to navigate the challenges and opportunities within the crypto industry. It is worth noting that while Coinbase’s stock has surged nearly 10% in the past day, the global crypto market has only seen a mere 0.5% increase over the same period.<\/span><\/p>\n

Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Coinbase, one of the leading cryptocurrency exchanges has experienced a surge in its stock price, despite a large sale of shares by Cathie Wood’s Ark Investment Management LLC. On July 11, Ark Investment Management sold approximately 135,152 Coinbase shares, worth around $12 million. This marked Cathie Wood’s first sale of Coinbase shares since July 26, after nearly 11 months of consistently buying up the stock. Cathie Wood’s Ark Investment Management Sells Significant Stake In Coinbase Cathie Wood’s investment in Coinbase solidified Ark Investment Management as one of the major stakeholders, ranking fourth in terms of Coinbase shares held. However, the recent sale by Ark Investment Management suggests a shift in strategy as the firm decided to put a pause on its buying spree. Related Reading: SEC Sues Binance, Coinbase Then BlackRock Files For Bitcoin Spot ETF; Is This An Inside Job? Notably, Cathie Wood’s Coinbase stock\u00a0buying frenzy came at a time when the crypto market was in a period of uncertainty, specifically during the regulatory scrutiny from the US Securities and Exchange Commission (SEC), the fallout from the FTX exchange, and an increase in bankruptcy cases which cast a shadow over investor sentiment. Though there are no specific reasons why Cathie Wood has decided to sell a large portion of its Coinbase shares, this move can be attributed to being a reflection of a calculated response to the current market conditions. Over the past month, the US regulator has intensified its scrutiny of the industry and this intensification has impacted even larger players in the industry such as Binance and Coinbase. Both exchanges saw the US SEC file a lawsuit against them over the alleged offering of unregulated securities. COIN Buck The Trend Despite the large sale of Coinbase’s shares by Ark Investment Management, the market reacted unexpectedly as the stock price defied expectations and surged by nearly 10% in just one day. Particularly, over the past 24 hours, Coinbase shares saw an increase of 9.78%, reflecting a positive investor sentiment. The stock has seen an increase from the $46 level which it traded at early in June, to trading at a price of $91.54, at the time of writing. The performance of Coinbase’s stock is noteworthy, considering the context of the crypto market. Since the beginning of the year, Coinbase’s stock has been on an upward trajectory, with its stock surging more than 150%. This increase has outpaced the overall cryptocurrency market, which has gained around 50% in the same period. Related Reading: Coinbase Stock Soars Nearly 12% As BlackRock Reveals Surveillance Partnership Coinbase’s performance reflects the confidence of investors in the platform and its ability to navigate the challenges and opportunities within the crypto industry. It is worth noting that while Coinbase’s stock has surged nearly 10% in the past day, the global crypto market has only seen a mere 0.5% increase over the same period. Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":516386,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88391],"tags":[88609,1379,1393,6664],"class_list":["post-542313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coinbase","tag-cathie-woods-ark-invest","tag-coin","tag-coinbase","tag-crypto"],"acf":[],"yoast_head":"\nCoinbase Stock Surges Nearly 10% Despite Cathie Wood\u2019s Ark Invest $12 Million Sale<\/title>\n<meta name=\"description\" content=\"Coinbase, one of the leading cryptocurrency exchanges has experienced a surge in its stock price, despite a large sale of shares by Cathie...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Coinbase Stock Surges Nearly 10% Despite Cathie Wood\u2019s Ark Invest $12 Million Sale","url":"http:\/\/wncen.com\/news\/coinbase\/coinbase-stock-surges-nearly-10-despite-cathie-woods-ark-invest-12-million-sale\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/coinbase\/coinbase-stock-surges-nearly-10-despite-cathie-woods-ark-invest-12-million-sale\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?fit=350%2C250"},"articleSection":"Coinbase","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["cathie wood\u2019s ark invest","coin","coinbase","crypto"],"dateCreated":"2023-07-12T10:09:13Z","datePublished":"2023-07-12T10:09:13Z","dateModified":"2023-07-12T10:09:13Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Coinbase Stock Surges Nearly 10% Despite Cathie Wood\\u2019s Ark Invest $12 Million Sale\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/coinbase\\\/coinbase-stock-surges-nearly-10-despite-cathie-woods-ark-invest-12-million-sale\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/coinbase\\\/coinbase-stock-surges-nearly-10-despite-cathie-woods-ark-invest-12-million-sale\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/DeFi.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/DeFi.jpg?fit=350%2C250\"},\"articleSection\":\"Coinbase\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"cathie wood\\u2019s ark invest\",\"coin\",\"coinbase\",\"crypto\"],\"dateCreated\":\"2023-07-12T10:09:13Z\",\"datePublished\":\"2023-07-12T10:09:13Z\",\"dateModified\":\"2023-07-12T10:09:13Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?fit=350%2C250","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/542313"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=542313"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/542313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/516386"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=542313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=542313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=542313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}