Cathie Wood's ARK Invest Sells $33M of Coinbase Shares, $5.9M of Grayscale Bitcoin Trust
Summary
ARK Invest, led by Cathie Wood, sold $33 million worth of Coinbase (COIN) stock and around $5.9 million of Grayscale's Bitcoin Trust (GBTC) shares on 24th August. COIN shares were sold after they reached a 19-month high due to a surge in bitcoin value, with the sales spread over three ETFs. While they reached as high as $147.86 during the day, COIN shares closed at $140.20. GBTC shares also had their highest level since December 2021. ARK Invest often buys crypto-related shares at low prices and sells them when they increase in value.
