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ARK Invest has offloaded a further $20.6 million in Coinbase (COIN) share s, spanning three of its exchange-traded funds (ETFs). Of the Coinbase share s sold on Jan. 5, by Cathie Wood‘s investment firm, 107,151 share s ($16.5 million) were from the Innovation ETF, 15,892 share s ($2.4 million) from the Next Generation Internet ETF and 10,780 share s ($1.7 million) from the Fintech Innovation ETF. Cathie Wood and Ark Invest's trade activity from today 1/5. pic.twitter.com/mJ9Cfxx3Ot — Ark Invest Daily (@ArkkDaily) January 6, 2024 Including the $25.3 million in COIN share s sold on Dec. 3 and $4.1 million on Dec. 4, ARK Invest’s total sales of Coinbase stock reached $50 million last week, even as the stock declined by about 10%. This series of sales is a continuation of the firm’s strategy to maintain balance in its portfolio, particularly to avoid any single stock exceeding 10% of an ETF’s total value. You might also like: Cathie Wood hint...

Towards the end of last week, Grayscale revealed that all digital assets that lie in its digital asset products were stored under the custody of Coinbase Custody Trust Company, LLC. The company, however, went on to clarify that the BTC underlying in the Grayscale Bitcoin Trust was owned by “ GBTC and GBTC alone.” Nevertheless, due to security concerns, the company refused to make on-chain wallet information and confirmation information publicly available via a cryptographic Proof-of-Reserve or other advanced cryptographic accounting procedures. 6) Coinbase frequently performs on-chain validation. Due to security concerns, we do not make such on-chain wallet information and confirmation information publicly available through a cryptographic Proof-of-Reserve, or other advanced cryptographic accounting procedure. — Grayscale (@Grayscale) November 18, 2022 FUD has, evidently, been spreading like wildfire and the state of the flagship fund has been deteriora...