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.

Coinbase Stock In Spotlight

Meanwhile, Coinbase previously saw its stock rise 4% to $389.83, according to Google Finance data. In the past week and month, COIN has increased by over 11% and 55%, respectively.

Popular crypto analyst Ali Martinez recently forecasted a price target of $2,000 for the Coinbase stock. The analyst based his prediction on a rare bullish pattern on the COIN chart.

This pattern usually forms after a prolonged consolidation phase. Hence, it signaled a potential bullish price movement for COIN.

Coinbase has also gained notable attention due to its recent announcements. For instance, the exchange recently announced that Sequans Communication has tapped its platform to launch a Bitcoin Treasury strategy.

Coinbase also mentioned that it would disclose its Q2 FY25 earnings results on July 31. These developments have possibly contributed to the uptick in the Coinbase stock.

Note that Ark Invest’s recent decision to reduce its Coinbase holdings is not new. The investment management firm recently sold 33,363 COIN shares, valued at around $12.5 million.

At the time of the sales, COIN closed at $375.07 with a 5.5% gain.

Crypto Stocks amid Bitcoin ATH Push

The US-listed crypto stocks showed gains in pre-market trading after Bitcoin surged to a new All-Time High (ATH) of $118,080.

Notably, Strategy (MSTR), the biggest corporate Bitcoin holder, saw its stock rise to $421.74. The Strategy stock surged 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. Additionally, 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.MARA Holdings (MARA) surged 2.8%, and Riot Platforms (RIOT) rallied 2.9%.

However, Cipher Mining (CIFR) and Bit Digital (BTBT) declined by 0.3% and 0.2%, respectively.

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