Ark Invest sells another $4 million in Coinbase shares
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Cathie Wood’s Ark Invest investment firm has sold shares of the Coinbase cryptocurrency exchange again.
The latest data shows that the transaction occurred on January 4. Ark Invest sold an additional 26,743 shares of Coinbase Global Inc. stock for $4.1 million. The deal comes just days after a massive $25.3 million stock sell-off.
The trade was conducted through the ARK Innovation ETF. On the same day, the ETF entered into a transaction to purchase an additional 132,955 shares of Recursion Pharmaceuticals stock, valued at approximately $1.48 million.
Coinbase shares rose 2.21% to $155.6 in the past 24 hours, according to TradingView. Coinbase’s stock price has increased by nearly 350% in the past year.
The company’s ETF has sold more than $200 million worth of Coinbase shares in the past few weeks. Additionally, the fund is actively selling shares of Grayscale Investments’ GBTC trust. Last month, Ark Investments announced it had sold all of the assets.
