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South Korea’s National Pension Service (NPS), holding the rank of the world’s third-largest pension fund by assets, purchased Coinbase share s worth about $20 million. According to the latest stock holding report submitted to the U.S. Securities and Exchange Commission (SEC), the NPS purchased 282,673 Coinbase shares at an average price of $70.5, totaling approximately $19.92 million, or about 26 billion Korean won. Coinbase, a major asset exchange in the United States, has been listed on Nasdaq since April 2021. The company’s stock and the broader virtual asset market have benefited from increased crypto trading volume and performance. This was highlighted when Bitcoin reached its highest level in 18 months on Nov. 9, leading to a 5.14% increase in Coinbase’s stock value, closing at $92.86. You might also like: Coinbase warns against hasty analysis of Bitcoin ETF flows The National Pension Service, known for its cautious approach towards the volati...

Cathie Wood’s investment management firm Ark Invest (ARK), one of the largest holders of Coinbase share d, has sold off some of its stash, worth over $12 million.  According to Bloomberg, ARK Innovation exchange-traded funds (ETF), one of the funds managed by Ark Invest, reduced its stake in the cryptocurrency exchange giant Coinbase, by selling 135,152 Coinbase (COIN) share s worth over $12 million based on COIN’s closing of $89.15 per share .  You might also like: SEC won’t object to Coinbase’s motion to speed up case This is the second time Cathie Wood’s Ark Invest takes advantage of the price surge of Coinbase share s in 2022. ARK Fintech Innovation ETF offloaded over 160,000 share s at over $13.5 million in March. In June, Ark Invest increased its portfolio by purchasing 419,324 Coinbase share s after the lawsuit by the Securities and Exchange Commission (SEC) against the company caused a 21% decline in its stock.  Meanwhile, the selloff comes sho...

Join Our Telegram channel to stay up to date on breaking news coverage Yesterday, March 21st, ARK Invest made a major move by selling 160,887 shares of Coinbase (COIN), the largest US crypto exchange. Growth Investor Cathie Wood’s ARK managed to sell the shares for 13.5 million in a move that immediately started making headlines. Cathie Wood and Ark Invest sold 160,887 shares of Coinbase $COIN stock today — StockMKTNewz – Evan (@StockMKTNewz) March 22, 2023 ARK’s move comes as a surprise, given that the company has spent a large portion of the year-long crypto winter purchasing Coinbase’s stock. Throughout last year, the stock underperformed in comparison to bitcoin and ether, and as time went by, its shares dropped by 86% last year. The price drop was likely increased due to major incidents in the crypto industry, such as the collapse of the Terra blockchain last May, followed by the collapse of the FTX exchange in November, plus that of al...