Cathie Wood's Ark Invest Sells $53 Million Coinbase Shares Amid Record Highs Cathie Wood’s Ark Invest
sold 478,356 Coinbase shares valued at $53 million on Friday as the crypto exchange’s stock prices reached
a 52-week high. This is the second time
Cathie Wood-led investment management firm offloaded Coinbase shares within a week.
As reported earlier,
Ark Invest sold 135,152 Coinbase shares worth $12 million on July 11 from the Ark Innovation ETF.
On July 14, Ark Invest sold 478,356 shares of Coinbase when the price of stock
reached an yearly high of $114.43, as per an update from the fund manager's trading desk.
The investment management
firm’s Ark Next Generation Internet ETF sold 93,227 shares, ARK Innovation ETF sold 263,247 and Ark Fintech Innovation ETF sold 121,882 shares. In total, the sales were
worth $53 million, based on the COIN’'s closing price
of around $110 on Friday.
