- Cathie Wood’s ARK Invest sold nearly $52 million in Coinbase stock across 3 of its ETFs, after selling $96 million earlier this month
- Cathie Wood and Ark Invest have repeatedly shown interest in Coinbase and Bitcoin, with Coinbase remaining one of ARK’s biggest holdings
- Coinbase is America’s largest crypto exchange, recently reporting impressive earnings; its stock price has soared over 200% year-to-date despite ARK’s sales
Tech investor Cathie Wood‘s ARK Invest has sold nearly $52 million in Coinbase stock, according to a filing from the firm. ARK’s Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF) offloaded a total of 1,995,526 shares. ARK had sold nearly $96 million in COIN earlier this month.
Cathie Wood’s History with Coinbase
Cathie Wood and Ark Invest have repeatedly shown interest in Coinbase. Wood has banged the Bitcoin drum and said the asset is coming for gold’s market share. Her firm remains one of the biggest holders of Coinbase stock.
About Coinbase
America’s biggest cryptocurrency exchange, Coinbase trades on the Nasdaq under the ticker COIN after going public in 2021. Its stock is today priced at $257.32 per share and has been on a tear recently. Over the past month, it’s shot up by over 50%. Year-to-date, COIN is up 236%.
Conclusion
Despite selling some Coinbase shares this month, Cathie Wood and ARK Invest remain highly invested in the cryptocurrency exchange. The recent stock sales come on the heels of an impressive earnings report from Coinbase, showing the firm’s continued faith in the future of the company.
