Cathie Wood’s ARK Invest continues taking profits from its Coinbase stash as the stock is hitting multiyear highs.
ARK Invest — one of 10 issuers of spot Bitcoin (BTC) exchange-traded funds (ETF) in the United States — is taking profits from its Coinbase stash as the stock price rises above $270.
On March 21, ARK sold 199,526 Coinbase shares from its ETFs, according to a trade notification seen by Cointelegraph.
The Cathie Wood-founded investment firm dumped 133,533 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.
