Cathie Wood’s Ark Invest Sells an Extra $4 Million Worth of Coinbase Shares

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Last Updated on January 5, 2024 by Bitfinsider

Just one day after offloading $25.3 million worth of Coinbase shares, Cathie Wood’s Ark Invest sold an additional 26,743 shares of Coinbase Global Inc. on Thursday, valued at $4.1 million.

According to its daily trading declaration, Ark Invest kept selling Coinbase through its ARK Innovation ETF on Thursday. That same day, the ETF purchased 132,955 shares of Recursion Pharmaceuticals, for a total estimated value of $1.48 million.

Over the last two weeks, the company’s ETFs have sold off more over $200 million worth of Coinbase shares. On Thursday, Coinbase’s stock finished at $155.6, up 2.21%. In the last year, it has increased by more than 360%.

Following other cryptocurrency exchanges, Coinbase began asking its UK users to complete a risk-acknowledgment form this week in accordance with directives from the country’s financial authority.

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