Cathie Wood's ARK Invest Sells Most Coinbase Shares Since July as Price Rises
Summary
ARK Invest, Cathie Wood's company, sold 335,860 shares in cryptocurrency exchange Coinbase (COIN), totaling approximately $49.2 million, across three exchange-traded funds (ETFs). This is ARK's most significant sale of COIN shares since July. This comes amid Coinbase's stock appreciation alongside bitcoin's rally. Despite the sales, COIN still represents more than 11% of ARKK and the Next Generation ETF (ARKW), and more than 13% of the Fintech Innovation ETF (ARKF). Additionally, ARK offloaded 102,672 shares in the Grayscale Bitcoin Trust (GBTC), equating to about $3.6 million.
