Cathie Wood’s Ark Invest sells another $42.6m Coinbase shares, $1.6m in GBTC
Ark Invest, the investment firm led by Cathie Wood, has again sold a substantial portion of its holdings in Coinbase Global Inc. (COIN) as the crypto exchange’s stock value soared to a 20-month high. The latest move comes amidst a broader reshuffling of the firm’s portfolio in response to recent market dynamics. On Dec. 13, Ark Invest sold 283,104 shares of Coinbase, valued at approximately $42.6 million, across two of its funds. The sale is part of a larger trend with the firm’s weekly sales reaching $56 million, as per their latest trade filing. Cathie Wood and Ark Invest's trade activity from today 12/13 pic.twitter.com/POmh1iS588 — Ark Invest Daily (@ArkkDaily) December 14, 2023 Ark sold 239,237 Coinbase shares ($36 million) from its Innovation ETF and 43,867 ($6.6 million) from its Next Generation Internet ETF. This follows the disposal of COIN shares worth $13.4 million on Dec. 11 and 12 and a $100 million sale last week. You might also ...