Cathie Wood’s Ark Invest has reduced its exposure to Coinbase and sold over $52 million in corporate stock for two consecutive days last week.
The decision came as Coinbase stocks surged to a new all-time high driven by bullish sentiment and a growing institutional interest in crypto-related stocks.
Coinbase will lead S&P in June, while Ark Invest will reduce exposure
Transaction data shows ARK sold approximately $12.5 million worth of Coinbase stock on June 26th, and sold $40 million in sales the following day. The stock recovered during that period, reaching an intraday high of $382 before closing the week at $353.
Overall, Coinbase has risen 32% over the past month, up over 42% since the start of the year. This will make it the best-performing stock on the S&P 500 in June.
Market analysts attribute the gathering to multiple factors, including improved regulatory clarity and continuous product expansion.
A big boost came last week when the US Senate passed the genius Stubcoin bill.
If enacted, the bill could bring much-anticipated guidelines to the digital asset sector and potentially raise investors’ trust in crypto-centric companies.
Beyond favorable regulations, Coinbase’s upward momentum is also driven by future product offerings.
Analysts at the 10x Research highlighted the platform’s plan to launch a US-regulated, lasting future for Bitcoin and Ethereum on July 21. They also pointed to a strong connection with Coinbase’s circle and an increase in the use of USDC as a catalyst for continuous growth.
Additionally, Coinbase CEO Brian Armstrong recently promoted the company’s institutional strength in an update on social media platform X.
He noted that eight of the top 10 publicly available Bitcoin companies use Coinbase Prime. Additionally, US-based ETFs have $140 billion worth of crypto, with Coinbase custody taking over 81% of that number.
But despite the strong momentum, some analysts are cautioning. A 10x survey warned that current rating levels could increase in the short term.
“Our regression model shows that Coinbase is overestimated.
Nevertheless, investors’ sentiment remains largely optimistic, especially as Coinbase continues to shape the conversation around Washington’s crypto policy.
Recently, we named this Exchange one of the 100 most influential companies of 2025. The company cited its defence of clearer rules in the digital asset sector, focusing on its ongoing expansion plans.
“If industry-friendly invoices are passed, Coinbase stands as a bigger hub for US crypto activity,” the report says.
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