Ark Invest, the investment firm run by Cathie Wood, sold tens of millions of dollars worth of Coinbase (COIN) shares last week.
Ark Invest once again sold Coinbase shares. According to the data in the last transaction file, last week Ark Invest Innovation Exchange Traded Fund (ARKK) over $44.7 million worth 217,305 Coinbase shares were sold.
Ark Invest also 11.4 million He also sold $100,000 worth of Robinhood shares.
Ark Invest’s sales accelerated in parallel with the increase in value of Coinbase shares. According to the investment rules they adopt, each share should not exceed a certain percentage of their total investments, and the increase in value in COIN pushes Ark Invest to sell regularly.
In mid-February, the company worth $90 million Coinbase had divested its stake.
According to TradingView data, COIN, which has gained a new upward momentum with the USA’s approval of spot Bitcoin exchange traded funds (ETF), has increased in the last week. 25% gained value. While writing COIN from $205.7 is being traded.