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<\/p>\nAccording to public trading data, Coinbase co-founder Fred Ehrsam and ARK Invest have sold more than $14 million of Coinbase shares over the past 48 hours.<\/p>\n
Information shared by Insider Tracker, a service that shares trading information of high-profile company executives and politicians shows that Ehrsam sold 97.836 COIN shares for $13.2 million on Dec. 11.<\/p>\n
Meanwhile, ARK Invest\u2019s daily trade information newsletter, which provides updates on its actively managed exchange-traded funds (ETFs), showed that its ARK Innovation ETF (ARKK) had offloaded some 10,933 COIN shares valued at around $1.5 million.<\/p>\n
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The shares represented 0.0185% of the ARKK ETF. Inside Tracker\u2019s data suggests that Coinbase insiders have been selling significant amounts of COIN shares over the past three weeks.<\/p>\n
Coinbase\u2019s share price has appreciated significantly over the past three months, having traded as low as $70 at the end of October 2023 and rising as high as $146 per share in early December.<\/p>\n
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Several publications have reported ARK Invest\u2019s continued selling of Coinbase shares in recent weeks. Ark has sold more than $100 million of its COIN in December 2023.\u00a0<\/p>\n