ARK Invest Sells $150M in Coinbase Shares; Grayscale Plans Bitcoin Fund Clone

ARK Invest sold over 580,000 shares of Coinbase, the cryptocurrency exchange, in the week ending March 8, amounting to approximately $149.85 million at Friday's closing price of $256.62. This sale was part of an ETF rebalancing effort by ARK Invest. Meanwhile, Grayscale, another major player in the cryptocurrency market, is planning to launch a clone of the world's biggest Bitcoin fund amidst a significant outflow of billions from the product. Additionally, Grayscale has transferred 7100 BTC, valued at $511.2 million, to Coinbase.