Cathie Wood’s Boss COIN Trades

Cathie Wood is one hell of a trader. ✒️

Ark Invest offloaded a significant stash of $COIN and Grayscale Bitcoin Trust ($GBTC) shares. Yesterday, Ark waved goodbye to 237,572 COIN shares, totaling $33.3 million, and 168,127 GBTC shares, valued at $5.9 million. Per their latest trade filing, this move marks one of Ark’s biggest daily sell-offs this year.

Breaking it down, Ark’s Fintech Innovation ETF ($ARKK) shed 28,535 Coinbase shares ($4 million), while their Next Generation Internet ETF ($ARKW) and Innovation ETF offloaded 7,326 ($1 million) and 201,711 ($28.3 million) shares, respectively. This follows their previous sales of 10,218 Coinbase shares ($1.4 million) on Monday and $15 million worth last week.

And sharehodlers (not a typo) are probably happy. If we look back at Wood’s Coinbase purchase from a year ago, they’re up triple-digits:

COIN Daily Chart – Click to enlarge.

On the GBTC front, Ark’s Tuesday sale from its Next Generation Internet ETF came after offloading 94,624 GBTC shares ($2.8 million) on November 24 – some profit taking from Bitcoin’s rally. 

GBTC’s discount to net asset value (NAV) has notably narrowed to less than 10% last month, a steep rise from the all-time lows near -50% in late December 2022. 😱

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