Coinbase Stock Unfazed as Ark Invest Dumps New Batch Amid Market Breakout

The Coinbase (COIN) stock price held stable despite a recent dump from Ark Invest. The Coinbase stock showed resilience as the price increased by over 1.3% in pre-market trading.

After peaking at around $395 earlier today, COIN was priced near $387 at the time of writing.

Besides COIN, other crypto stocks also got a le g up including Strategy (MSTR), Riot Platforms (RIOT), Circle Internet Group (CRCL), and others.

The rally in these stocks comes amid a strong crypto market breakout this week.

Ark Invest Offloads Robinhood and Coinbase Stock

On Thursday, July 10, 2025, Ark Invest sold over $12 million worth of Coinbase and Robinhood shares. Notably, Ark Invest offloaded 16,627 units of Coinbase stock, valued at $6.5 million.

Additionally, the asset manager offloaded 58,504 shares of Robinhood (HOOD), valued at $5.8 million. These cuts come amid a broader rally in the crypto market.

Bitcoin (BTC), the leading crypto market, saw surged 6.4% in over the previous day, hitting a new all-time high of $118,856.

Ethereum (ETH) followed the same path, climbing 8.5% to cross $3,000. At press time it was slightly lower, about $2979.

The COIN and HOOD sales by Ark Invest also follow a surging institutional interest in crypto.

Spot Bitcoin Exchange-Traded Funds (ETFs) recorded $1.18 billion in daily inflows on July 10, according to Farside Investors data.

The $1.18 billion is 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. In dollar terms, these shares were worth approximately $1.7 million based on the stock’s closing price.

Considering the massive rally in the crypto market, questions have been raised about why Ark Invest is pulling back. While some see it as a profit-taking move, others think the firm anticipates near-term volatility.