{"id":81751,"date":"2023-07-15T14:01:20","date_gmt":"2023-07-15T11:01:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81751"},"modified":"2025-09-12T00:53:48","modified_gmt":"2025-09-11T21:53:48","slug":"ark-invest-sells-53-million-worth-of-coinbase-shares-at-a-local-high","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ark-invest-sells-53-million-worth-of-coinbase-shares-at-a-local-high\/","title":{"rendered":"ARK Invest sells $53 million worth of Coinbase shares at a local high"},"content":{"rendered":"<p>ARK Invest-managed funds <a href=\"https:\/\/ark-funds.com\/ark-trade-notifications\/\">liquidated<\/a> positions in Coinbase shares worth $53 million. The sale followed a rally in the stock prompted by a court ruling in the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> case against Ripple.<\/p>\n<p>ARK Invest&#8217;s funds pared their holdings as follows:<\/p>\n<ul class=\"wp-block-list\">\n<li>the flagship ARK Innovation ETF sold 263,247 shares;<\/li>\n<li>the ARK Next Generation ETF sold 93,227 shares;<\/li>\n<li>the ARK Fintech Innovation ETF sold 35,666 shares.<\/li>\n<\/ul>\n<p>On July 13, the U.S. District Court for the Southern District of New York <a href=\"https:\/\/forklog.com\/en\/news\/ripple-wins-case-against-the-sec-as-xrp-jumps-24-in-an-hour\">found that<\/a> that the programmatic sales and other distributions of the token <a href=\"https:\/\/forklog.com\/en\/news\/what-are-ripple-and-the-cryptocurrency-xrp\">XRP by Ripple<\/a> did not constitute an offer and sale of investment contracts. The proceedings in the case <a href=\"https:\/\/forklog.com\/en\/news\/sec-files-suit-against-ripple\">had lasted since December 2020<\/a>.<\/p>\n<p>The Coinbase stock finished the day at $107. Prices retraced in the subsequent trading session.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/Cce76ujgnOL0jt-4-Mv8SXkBDTa0oQf8hWV9plxQOi4zj2o7_tePghRZ43o4zt6N044EQ2w2ZXeKe2G4FDpdkTZRy5cwzLMTAGJFATiT36m8_bWg_xL9a9H1cEP3pusFNbE4UAP3dCz963zr7eoFsn4\" alt=\"ARK Invest at a local high sold Coinbase shares worth $53 million\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"http:\/\/marketwatch\/\">MarketWatch<\/a>.<\/figcaption><\/figure>\n<p>On July 11, the ARK Invest funds sold off 135,152 Coinbase securities (~$13.4 million).<\/p>\n<p>The largest U.S. bitcoin exchange announced the relisting of XRP. The platform <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-and-okcoin-halt-xrp-trading-amid-sec-lawsuit\">stopped supporting<\/a> the asset after the SEC filed suit against Ripple.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ARK Invest-managed funds liquidated Coinbase stock positions worth $53 million. The sale followed the rise in the stock price as a result of the court ruling in the Securities and Exchange Commission&#8217;s case against Ripple.<\/p>\n","protected":false},"author":1,"featured_media":81752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1218,138,1211],"class_list":["post-81751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ark-invest","tag-coinbase","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=81751"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81751\/revisions"}],"predecessor-version":[{"id":81753,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81751\/revisions\/81753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/81752"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=81751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=81751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=81751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}