Ark Invest, under Cathie Wood’s leadership, offloaded another 133,823 Coinbase shares on Friday, valued at approximately $20.6 million. This latest transaction involved selling 107,151 shares from the Innovation ETF for $16.5 million, 15,892 shares from the Next Generation Internet ETF for $2.4 million, and 10,780 shares from the Fintech Innovation ETF for $1.7 million.
Earlier last week, on Wednesday and Thursday, Ark Invest had already sold Coinbase shares worth a total of $29 million. With the additional sale on Friday, Ark Invest disposed of Coinbase shares valued at about $50 million in just the past week. This series of sales is part of a portfolio rebalancing effort for Ark Invest’s funds.
Recently, Ark has been continuously selling Coinbase shares. In December last year, when the price of Coinbase had risen by nearly 40%, Ark sold approximately $200 million worth of Coinbase shares. Last Friday, Coinbase shares closed at $153.98.
