ARK sells $52M of Coinbase shares as COIN breaks above $270
Cathie Wood’s ARK Invest continues taking profits from its Coinbase stash as the stock is hitting multi-year highs.
ARK Invest — one of 10 issuers of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States — is taking profits from its Coinbase stash amid the stock rising above $270.
On March 21, ARK sold 199,526 Coinbase (COIN) shares from its ETFs, according to a trade notification seen by Cointelegraph.
The Cathie Wood-founded investment firm dumped 133,533 COIN shares from the ARK Innovation ETF (ARKK), worth around $35 million, based on Coinbase’s closing price of $262 on March 21, according to data from TradingView.
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