Coinbase Shareholders: Who Owns the Most COIN stock?
Will the SEC look past its isses with Coinbase? | Credit: Shutterstock
- Biggest investor in Coinbase is Vanguard Group which holds 7.29%
- Day before SEC’s suit, Coinbase’s CEO Brian Armstrong sold 29,730 shares
- ARK Invest increased its shares holdings in the exchange on the day of the SEC’s suit
At the height of the cryptocurrency rise, in April 2021, Coinbase went public on the Nasdaq Stock Exchange. Since then, as cryptocurrency markets have decisively turned bearish, the price of COIN shares has fallen by more than 84%.
Who owns COIN stocks?
According to information from MarketWatch , there are around 186.88 million Coinbase (COIN) shares outstanding as of the date of writing (June 16).
Institutional investors held the most Coinbase stock as of June 16, with 64.86%.
Coinbase Global Inc – Class A has 926 institutional owners and shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). The largest shareholders include Vanguard Group Inc, ARK Investment Management LLC, Sumitomo Mitsui Trust Holdings, Inc., Nikko Asset Management Americas, Inc., BlackRock Inc., Fmr Llc, ARKK – ARK Innovation ETF, Susquehanna International Group, Llp, VTSMX – Vanguard Total Stock Market Index Fund Investor Shares, and Susquehanna International Group, Llp .
The share price as of June 15, 2023, is $54.25 / share. A year previously, on June 16, 2022, the share price was $51.05 / share. This represents an increase of 6.27% over that period.
Top 5 Owners of Coinbase Global Inc
According to CNN Business , here are 5 biggest Coinbase shareholders:
| Stockholder | Stake | Shares owned |
Total value ($) | Shares bought / sold |
Total change |
| The Vanguard Group, Inc. | 7.29% | 13,390,659 | 720,283,548 | +395,747 | +3.05% |
| ARK Investment Management LLC | 6.42% | 11,776,015 | 633,431,847 | +2,586,742 | +28.15% |
| Nikko Asset Management Co., Ltd. | 4.69% | 8,610,945 | 463,182,732 | +1,300,484 | +17.79% |
| Nikko Asset Management Americas, … | 4.52% | 8,298,784 | 446,391,591 | +1,298,374 | +18.55% |
| Fidelity Management & Research Co… | 3.69% | 6,769,264 | 364,118,711 | +5,455,110 | +415.10% |
Two Biggest Owners View Crypto as New Asset Data
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Vanguard Group
According to ADV Ratings, Vanguard Group, which was founded in 1975, is the second-largest asset management company in the world behind Blackrock. Vanguard provides individual investors, institutions, and financial professionals with a variety of investment products, advisory services, and retirement programs.
According to the most recent data available , Vanguard had 441 funds and 30 million investors managing more than $8.1 trillion in assets worldwide.
To make investing more accessible and affordable for regular investors, Vanguard pioneered the development of mutual and exchange-traded funds (ETFs) that track stock market indices. Investors can access the markets with Vanguard’s low-cost funds by tracking the performance of benchmark indices like the S&P 500 or Nasdaq 100 without having to buy individual stocks or pay expensive fund management fees.
Vanguard is one of the institutional investors who has recognised the significance of cryptocurrencies as blockchain technology becomes more widely used with its 7.29% position in Coinbase, and its COIN valued at about $720.28 million. Since 2017, Vanguard has distributed data about the capital markets using blockchain technology.
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ARK Investment Management
Cathie Wood established ARK, an investment management company, in 2014, to solely concentrate on disruptive innovation.
ARK specializes in the long-term impact of disruptive technologies and offers active management products like ETFs, mutual funds, and managed accounts. The latest data showed ARK had $14.38 billion in AUM.
Wood, who has previously predicted a rise of Bitcoin to $100,000, is optimistic about the long-term prospects of cryptocurrencies as a class of investments. Since the price of COIN shares has a tendency to move in the same direction as the price of Bitcoin, ARK’s 6.42% ownership of the business reflects this bullish outlook.
Blackrock’s move to collaborate with Coinbase, according to ARK analyst Yassine Elmandjra, is a clear indication that institutions now view cryptocurrencies, starting with Bitcoin, as a new asset class.
Last year, Wood confirmed that ARK sold 1.1 million Coinbase shares in reaction to the news that the SEC was looking into the exchange to see if some of its cryptocurrency listings would be considered securities as opposed to virtual currencies in July of last year. However, the company still holds more than 11.78 million shares worth almost $633 million.
On the day the United States Securities and Exchange Commission slapped Coinbase with a lawsuit, ARK Invest increased its COIN holdings in the exchange.
Investor notification from ARK Invest on June 6 states that the company added around 419,324 shares of Coinbase Global Inc., totaling about $21.6 million at the time of closing on the same day.
CEO Brian Armstrong Sells Stocks Just a Day Ahead of SEC Suit
The day before the United States Securities and Exchange Commission (SEC) filed a lawsuit against the exchange for violating securities laws, Coinbase CEO and co-founder Brian Armstrong sold company shares. Armstrong avoided a significant loss by making the trade, which prompted a small uproar in the Twitter cryptoverse.
Armstrong sold 29,730 COIN shares of his Coinbase exchange on June 5, the day before the SEC lawsuit, according to SEC filings. The day the lawsuit was filed, Coinbase’s stock price crashed, initially falling by 20%.
Since November, Armstrong has been consistently selling Coinbase stock. He executed the trades in accordance with a 10b5-1 plan that was adopted in August that establishes the timing and quantity of transactions beforehand.
Armstrong’s personal wealth dropped to $2.2 billion the day after the SEC took action against Coinbase, according to reports. This represents a loss of 11.8% of his net worth. According to Forbes, Armstrong is the 1,409th richest person in the world.
Only board members Tobias Lutke and Fred Ehrsam, out of the company’s executives, have bought Coinbase stock in the past year. A Coinbase shareholder sued Armstrong and Ehrsam in May, alleging that they and other Coinbase backers sold shares in a public offering in April 2021 before unfavorable financial information was published, causing the share price to drop by 37%. Armstrong and Ehrsam were named as defendants in the lawsuit.
The Verdict
The most recent trading day saw Coinbase close at $54.25 , up +0.65% from the previous trading session. This shift was slower than the S&P 500’s increase of 1.22%. The tech-heavy Nasdaq rose 4.63%, while the Dow gained 1.26% elsewhere.
Shares of the corporation have dropped 11.7% over the previous month before Thursday’s trade. This has fallen behind the 5.82% increase in the finance sector and the 6.22% increase in the S&P 500 over that time.
When the time comes for Coinbase Global, Inc. to deliver its next financial report, it will try to appear strong. Coinbase Global, Inc. is anticipated to disclose earnings of -$0.82 per share on that day, representing an increase of 83.43% year over year.
Understanding a company’s share ownership can be useful for retail investors because significant stock acquisitions and sells can have a big impact on how the share price performs. By reviewing Coinbase’s SEC filings, investors can keep tabs on the trading activities of its significant shareholders because laws mandate businesses to report material changes in share ownership.
