Cathie Wood Trims Coinbase Stake As COIN Hits New ATH

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Cathie Wood’s Ark Invest sold $12.5 million Coinbase shares as the crypto exchange’s stock closed at a new all-time high.

Coinbase’s shares (COIN) closed trading on the Nasdaq yesterday at $375.07, up 5.5% for the day and 40% in the past month, according Yahoo Finance data. Coin had earlier hit $382 before paring gains.

The rally continued in after-hours trading, with COIN rising more than 1%.

Ark Invest Sells Coinbase And Block Inc. Shares

Ark Invest took advantage of COIN’s recent rally to sell $12.5 million worth of the exchange’s shares from its Ark Innovation ETF (ARKK). The investment firm also offloaded $12.3 million worth of shares in Block Inc.

According to the firm’s recent filing, the ETF dumped 33,363 COIN shares and 189,649 Block shares.

Here’s every move Cathie Wood and Ark Invest made in the stock market today 6/26 pic.twitter.com/pSJnNdkiGt

— Ark Invest Daily (@ArkkDaily) June 27, 2025

That’s after Ark Invest executed a series of Circle (CRCL) share sales following the stock’s 500% surge since its June 4 public debut on the New York Stock Exchange (NYSE).

Analysts Split On Whether COIN Can Keep Pumping

After COIN’s record close yesterday, analysts are split on whether it can keep surging.

Investment analyst Andy Heilman said in an X post yesterday that the weekly view for COIN is still bullish, but warned the stock “is due for a pullback.”

Crypto analyst Chad echoed Heilman’s sentiment that a pullback might happen in the short term, adding that COIN’s current price might be “overextended.”

While Heilman and Chad warn of a potential retracement in the short term, another crypto analyst, Cantonese Cat, said that COIN’s price looks “like it just wants to keep going up for now.”

$COIN daily Bollinger band expansion looking like it just wants to keep going up for now… pic.twitter.com/Ftj70xlQiA

— Cantonese Cat (@cantonmeow) June 26, 2025