According to the recent filings, Cathie Wood’s ARK Invest sold off nearly $52 million of Coinbase stock today. The Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF) are the three ARK ETFs that are reportedly the target of these transactions. This comes after a $96 million COIN sale earlier this month.
Despite the huge sales, ARK Invest remains a major Coinbase stock holder. The firm is known for its focus on technology stocks, particularly those in the artificial intelligence and cryptocurrency sectors.
Coinbase exchange has had a sharp increase in stock price recently. At $257.32, the company’s share price has increased by over 50% in the past month and a whopping 236% year to date.
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