Cathie Wood's Ark ETF sells $13m in Coinbase for the first time since July

Quick Take

  • Cathie Wood’s Ark Invest sold its first large holding of Coinbase stock since July after months of buying the stock.  

Cathie Wood's ARK Fintech Innovation ETF sold $13.5 million worth of Coinbase, the first time it has sold off a large chunk of the company's stock since July.

Ark sold 160,887 shares from its Ark Fintech Innovation ETF. This ends a months-long buying spree that that ramped up in November 2022. Earlier this month, Ark added almost $30 million in Coinbase shares, The Block previously reported.  The fund is up 5% today and 33% year-to-date after dropping around 65% in 2022.

Coinbase shares were up 11% today, closing at $83.99, and almost 150% year-to-date.

Updated throughout with more details on the transaction. 

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