Ark Invest Sells $12.5M in Coinbase Shares as Stock Hits Record High
Cathie Wood's Ark Invest divested $12.5 million worth of Coinbase shares from its ARKK ETF on June 26, 2025, as the exchange's stock surged to an all-time high of $375.07—marking a 5.54% daily gain. The sale included 33,363 Coinbase shares and 189,649 Block Inc. shares, contrasting with Coinbase's recent 27% five-day rally driven by bullish crypto market sentiment and regulatory optimism, including the proposed GENIUS stablecoin framework. This move highlights Ark's strategic profit-taking amid a historic market uptrend while underscoring Coinbase's resilience as a leader in the digital asset ecosystem.
Ark Invest Offloads $12.5M in Coinbase Shares Amid Record Stock Surge
Cathie Wood's Ark Invest divested $12.5 million worth of Coinbase shares from its ARKK ETF on Thursday, coinciding with the exchange's stock reaching an all-time high of $375.07—a 5.54% daily gain. The sale, which included 33,363 Coinbase shares and 189,649 Block Inc. shares, contrasts sharply with Coinbase's 27% five-day rally fueled by bullish crypto market sentiment and regulatory tailwinds like the proposed GENIUS stablecoin bill.
While Coinbase thrives, Block Inc. struggles with a 23.39% year-to-date decline. The divergence highlights shifting investor priorities: Circle's 7.56% growth underscores rising demand for digital asset exposure, while traditional fintech faces headwinds. Market momentum suggests Coinbase could deliver 51% annual gains, per Yahoo Finance data.
Coinbase Shares Surge to All-Time High Amid Broad Crypto Market Optimism
Coinbase Global Inc. (COIN) reached its highest price since its 2021 Nasdaq debut, closing at $369 after a 4% single-day gain. The stock extended its rally with an additional 1.6% in after-hours trading, cementing its position as the top-performing S&P 500 component this week with a 12.1% advance.
The crypto exchange's shares have gained 22% over five sessions and 39% in the past month, marking a dramatic recovery from January 2023's $33 low. This resurgence comes despite the absence of company-specific catalysts, suggesting broader sector sentiment is driving momentum.
Market observers note parallel enthusiasm around Circle's recent public debut, though the stablecoin issuer's shares have since retreated sharply from their $298 peak. Coinbase's inclusion in the S&P 500 last month—as the first crypto-native financial services firm—has further bolstered institutional interest.
Coinbase CEO Reveals Weekly Bitcoin Buys: Time to ‘Go Long’?
Coinbase CEO Brian Armstrong has disclosed the exchange's aggressive accumulation strategy, purchasing Bitcoin weekly to bolster its corporate holdings. With $995 million in BTC reserves, Coinbase now ranks as the 10th-largest institutional holder. Armstrong's public endorsement—"We're buying more bitcoin every week. Long #Bitcoin"—signals unwavering confidence as prices approach all-time highs.
The exchange's evolution from Bitcoin purism to a multi-token platform reflects broader industry shifts. After launching as a BTC-only service in 2012, Coinbase expanded to ethereum in 2016 and ERC-20 tokens by 2018, adding nearly 100 assets during the last bull run. This pivot drew criticism from Bitcoin maximalists but underscores the platform's adaptive strategy in a diversifying crypto ecosystem.
Bitcoin Surpasses Alphabet in Market Cap as Crypto Equities Rally
Bitcoin has eclipsed Google's parent company Alphabet to become the world's sixth most valuable asset, with a market capitalization of $2.13 trillion. Trading above $106,000, the cryptocurrency now trails only gold, Microsoft, Nvidia, Apple, and Amazon in global asset rankings. Year-to-date gains exceed 40%, fueled by institutional inflows and its growing reputation as digital gold amid U.S. fiscal uncertainty.
The milestone coincides with a surge in crypto equities, particularly Coinbase, whose shares jumped 20% to $373. Investor Optimism follows the Senate's 68-30 passage of the GENIUS Act, which establishes reserve requirements and audits for stablecoin issuers. The regulatory clarity could accelerate bank participation in dollar-backed cryptocurrencies, potentially expanding Coinbase's USDC-related revenue streams.
Helium Token Prices Drop Following Coinbase's Delisting of Deprecated MOBILE Token
Helium Mobile's MOBILE token plunged 87% from its December peak after Coinbase suspended trading, citing failure to meet listing standards. The exchange's delayed transition to newer tokens created market confusion, dragging down related assets in the Helium ecosystem.
HNT and IOT tokens each fell over 5% amid the sell-off. The downturn follows Helium's January consolidation of MOBILE and IOT tokens into HNT under HIP 13 - a MOVE most exchanges implemented months ago. Coinbase's belated action has exposed operational inconsistencies in crypto asset migrations.
Market reactions highlight the fragility of token valuations during exchange-led transitions. The incident underscores how infrastructure decisions can create Ripple effects across interconnected crypto ecosystems, particularly when major platforms like Coinbase diverge from industry implementation timelines.
Coinbase and Ripple's Political Moves May Influence BTC and ETH Market Stability
The cryptocurrency industry's foundational principles of decentralization and freedom from institutional control are under scrutiny as major players like Coinbase and Ripple increasingly align with traditional financial systems. Recent political engagements by these firms have sparked debate about the future direction of the market.
Coinbase has actively sponsored political events, while Ripple has intensified lobbying efforts in Washington following its legal battle with the SEC. These actions, though aimed at fostering mainstream adoption, risk diluting the cypherpunk ethos that originally defined the space.
Market observers warn that such integration could heighten regulatory scrutiny and alter trading dynamics for Bitcoin (BTC) and Ethereum (ETH). The tension between ideological purity and institutional acceptance continues to shape the sector's evolution.
