Ark Invest Sells Coinbase Shares Worth $5.5 mn
Ark Invest has made a $5.5 million sale of Coinbase (COIN) shares and liquidated $1.6 million in Robinhood (HOOD) shares.
Cathie Wood’s investment management company sold 34,261 Coinbase shares, resulting in COIN reaching its yearly highs.
The funds liquidated are Innovation ETF and Next Generation Internet ETF. The annual price of COIN has increased by 379% compared to a year ago.
Ark Invest has made multiple COIN sales this month, liquidating 43 million dollars of shares on December 13th.
In one week, Ark Invest would have liquidated over $56 million, resulting in a total of approximately $61.5 million.
(With inputs from Shikha Singh)
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