Ark Invest has sold off more than 1.5 million shares of Coinbase stock so far this month at the end of a year in which the stock price has seen major gains.
The firm has offloaded even more shares of the Grayscale Bitcoin Trust (GBTC) in that span.
Coinbase’s stock price was trading roughly $184 on Wednesday at 12 pm ET, up nearly 54% from a month ago and 449% year to date. That makes Ark’s Coinbase stock sales this month — totaling 1,535,789 as of Dec. 26 — worth about $282.5 million, according to Blockworks’ review of trade notifications.
The asset manager has long been bullish on Coinbase, particularly after Coinbase partnered with fund giant BlackRock last…
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