Cathie Wood’s ARK Invest sold 199,526 Coinbase shares on March 21, netting more than $52 million based on the stock’s closing price on Thursday.
) exchange-traded funds in the United States — is taking profits from its Coinbase stash as the stock price rises above $270.
The Cathie Wood-founded investment firm dumped 133,533 shares from the ARK Innovation ETF , worth around $35 million, based on Coinbase’s closing price of $262 on March 21, The sale came as Coinbase stock continued to see stable growth, surging above $270 for the first time since December 2021. According to TradingView, Coinbase stock briefly topped $276 on March 21.
On Feb. 16, ARK made its biggest Coinbase sale of 2024 so far, selling 499,149 COIN shares from its three ETFs. On that day, Coinbase shares traded 37% lower than the current price, or around $190, according to data from TradingView.
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