Ark Invest, Nienfeld's investment consulting firm, has taken action to make a profit on its Coinbase shares and will sell its first Coinbase shares in 2023.

According to an investor notice seen by Cointelegraph, Ark sold 160887 Coinbase shares of the Ark Financial Technology Innovation Exchange traded Stock Fund (ARKF) for $13.5 million on March 21.

The deal turned into Ark's first sale of Coinbase shares in 2023 and had been actively buying for three months. The quota sold accounts for 23 per cent of Ark's acquisition of Coinbase shares so far in March, about 9 per cent of the Coinbase shares the company has bought so far this year.

After the sale, Ark owns the purchase of nearly HK $16 billion of Coinbase shares in 2023. At the time of this writing, the stock is worth more than $132 million.

The latest sale coincides with a sharp rise in the price of Coinbase shares, which hit a multi-month high this week. Coinbase is a stock traded in coins.

Coin shares closed at $83.99 on March 21, hitting aggregate demand for the first time since September 2022, according to TradingView. The stock has rebounded by more than 130 per cent since the start of the year, but is still down about 54 per cent in the past 12 months.

Coinbase shares rose in line with more efficient cryptocurrency markets, with BTC (BTC) hitting multi-month highs amid continuing global banking woes. BTC hit a nine-month high above $28000 on March 22nd, significantly boosting aggregate demand from sector woes caused by the collapse of FTX and others.

The news will be announced shortly after Ark launched its main Coinbase stock option trading in 2023. On March 9, Field's market analysts raised 301437 Coinbase shares and 52525 Coinbase shares from its Ark's indigenous innovation ETF (Ark Innovation ETF) and Ark's next-generation Internet ETF (ARKW). At the time of purchase, the stock was worth about $20.5 million, so it is currently worth close to $30 million.