Coinbase Stock Rises 1.3% Despite Ark Invest Sale

Coinbase (COIN) stock price remained stable despite a recent sale by Ark Invest. The stock showed resilience, increasing by over 1.3% in pre-market trading. After peaking at around $395 earlier in the day, COIN was priced near $387 at the time of writing. This stability came amidst a broader rally in the crypto market, with other crypto-related stocks such as Strategy (MSTR), Riot Platforms (RIOT), and Circle Internet Group (CRCL) also experiencing gains.

On Thursday, July 10, 2025, Ark Invest sold over $12 million worth of Coinbase and Robinhood shares. Specifically, Ark Invest offloaded 16,627 units of Coinbase stock, valued at $6.5 million, and 58,504 shares of Robinhood (HOOD), valued at $5.8 million. These sales occurred during a significant rally in the crypto market, with Bitcoin (BTC) surging 6.4% to hit a new all-time high of $118,856, and Ethereum (ETH) climbing 8.5% to cross $3,000, although it was slightly lower at $2,979 at press time.

The sales by Ark Invest followed a surge in institutional interest in crypto. Spot Bitcoin Exchange-Traded Funds (ETFs) recorded $1.18 billion in daily inflows on July 10, the second-largest daily inflow on record. Ethereum spot ETFs also posted their second-best day ever, pulling in $383 million. In addition to Coinbase stock sales, Ark Invest also sold 24,780 shares of Block Inc., worth approximately $1.7 million based on the stock’s closing price.

The reasons behind Ark Invest's decision to sell are speculative. Some analysts view it as a profit-taking move, while others suggest the firm may be anticipating near-term volatility. Coinbase stock has seen significant gains in recent weeks, rising 4% to $389.83, with increases of over 11% in the past week and 55% in the past month. Popular crypto analyst Ali Martinez recently forecasted a price target of $2,000 for the Coinbase stock, based on a rare bullish pattern on the COIN chart. This pattern typically forms after a prolonged consolidation phase, signaling a potential bullish price movement for COIN.

Coinbase has also gained attention due to recent announcements, such as Sequans Communication tapping its platform to launch a Bitcoin Treasury strategy and the upcoming disclosure of its Q2 FY25 earnings results on July 31. These developments have likely contributed to the uptick in the Coinbase stock. Ark Invest’s recent decision to reduce its Coinbase holdings is not new; the firm previously sold 33,363 COIN shares, valued at around $12.5 million, when COIN closed at $375.07 with a 5.5% gain.

US-listed crypto stocks showed gains in pre-market trading after Bitcoin surged to a new All-Time High (ATH) of $118,080. Strategy (MSTR), the biggest corporate Bitcoin holder, saw its stock rise to $421.74, surging 3% in pre-market trading and 1.5% over the past day. Shares of Block Inc. saw moderate price gains of 0.2% to close at $68.7, while Robinhood stock (HOOD) rallied 4.4% to $98.7, and Circle stock (CRCL) increased by 1.4%. Crypto mining firms also experienced significant pre-market rallies, with MARA Holdings (MARA) surging 2.8% and Riot Platforms (RIOT) rallying 2.9%. However, Cipher Mining (CIFR) and Bit Digital (BTBT) declined by 0.3% and 0.2%, respectively.