Cathie Wood’s investment firm, Ark Invest, has made significant moves in its holdings of Coinbase shares, selling over $50 million worth of shares as the cryptocurrency exchange’s stock continues to surge. This marked the second time in a week that Ark Invest reduced its stake in Coinbase, reflecting its active management approach amid a backdrop of regulatory developments and industry optimism. At the same time, Ark Invest has been actively investing in other notable companies, including Meta Platforms and Robinhood. Ark Invest Cashes In on Coinbase Rally Ark Invest, led by Cathie Wood, sold a total of 478,356 shares of Coinbase on Friday, amounting to more than $50 million. The sales were spread across Ark’s flagship fund, Ark Innovation ETF, which sold 263,247 shares, Ark Next Generation Internet ETF, which sold 93,227 shares, and Ark Fintech Innovation ETF, which offloaded 121,882 shares. Related Reading: XRP Kicks Out BNB To Become 4th-Largest Crypto After 65% Rally This decision comes on the heels of Coinbase’s role as a surveillance-sharing partner for several spot Bitcoin ETF applicants, including industry giants BlackRock and Fidelit ..
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