Cathie Wood’s ARK sells 135K Coinbase shares as price hits $90
Cathie Wood is taking profits from ARK Invest’s Coinbase holdings by selling a small portion of its stash. Pro-Bitcoin (BTC) Investment veteran Cathie Wood is taking some profits from ARK Invest’s large Coinbase holdings by selling a small portion of its stash. On July 11, Wood’s investment firm ARK offloaded 135,152 Coinbase shares ($12 million) from one of its major exchange-traded funds, the ARK Innovation ETF. According to the trade notification seen by Cointelegraph, the amount that was sold made up 0.14% of the fund’s total holdings. The sale comes as the Coinbase stock price has sharply increased. On July 11, the price briefly surpassed $90, surging from around $82 to as high as $90.9, according to data from TradingView. Following Wood’s sale, the stock closed at $89 on Tuesday. According to TradingView data, Coinbase stock is up more than 60% over the past month, while the year-to-date increase is more than 140%. Coinbase 7-day price chart. Source: TradingView The new sale b...