On July 26, ARK Invest sold a total of 1.41 million Coinbase shares worth approximately $75 million. The bitcoin exchange lost 21.1% of its capitalization after the trading session.

The market also reacted to the information about the SEC investigation into Coinbase.

Ark Innovation (ARKK) dropped its position with 1.13 million shares, Next Generation Internet (ARKW) 174.6 thousand shares and Fintech Innovation (ARKF) 110.2 thousand shares, according to the firm’s daily bulletin.

According to Bloomberg, as of the end of June, ARK Invest became the third shareholder of Coinbase, holding 8.95 million shares.

The management company has been developing the position since the IPO in 2021. The last largest purchase of 546 thousand shares worth approximately $30 million dates to May 2022.

Its flagship fund, Ark Innovation, has lost 57.84% since January. Since its inception in 2017, the structure has generated 119.45% returns for ETF holders.

User Unusual Whales has calculated that ARK Invest could lose $200 million from investing in Coinbase. The average purchase price of Bitcoin exchange shares was $254.65 according to their calculations. On July 26, securities were trading at $52.93.

Cathie Wood $ARKK Sold approximately 1.41 million shares of Coinbase, $MONEYAt $53, it’s at an all-time low.

Average cost average $ARKK Purchased $MONEY It was $254.65.

— unusual_whales (@unusual_whales) 27 July 2022

Recall that in April 2022, ARK Invest liquidated its position in PayPal shares.

A month later, the company and 21Shares filed a new joint application to launch a Bitcoin ETF.

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