Cathie Wood’s ARK Invest Sells more Coinbase Shares

ARK Invest, led by Cathie Wood, sold 37,377 Coinbase shares this week, valued at nearly $4.7 million. This sale is part of ARK's recent sales on Nov 27 and Nov 29 making their total sales to be around $15 million in Coinbase stock sales from its Next Generation Internet ETF (ARKW).

Coinbase's shares on Nasdaq hit their highest since April 2022 earlier this week, reaching $119.77 on Monday. Despite a small drop on Thursday, the shares are still at a 19-month high.

ARK Invest often buys crypto-related shares when prices are low and sells them when the market is up, to make profits. This is a common strategy in their investment approach.