Cathie Wood’s Ark Invest sold 134,749 Coinbase shares across three of its exchange-traded funds on Monday, worth $30.9 million, according to the company’s latest trade filing.

To break it down, Ark Invest offloaded 72,871 shares ($16.7 million) from its Innovation ETF, 11,015 shares ($2.5 million) from its Next Generation Internet ETF, and 50,863 shares from its Fintech Innovation ETF ($11.7 million) — out of the total Coinbase shares sold yesterday.

The investment management firm also sold $45 million worth of Coinbase stock last week as it continues to rebalance its fund weightings amid a surge in COIN’s price.

Coinbase stock traded at $229.15 at market close on Monday, up more than 11% for the day, according to TradingView. COIN is up 80% over the last month and 270% over the past year but remains 33% down from an all-time high of $342.98, set in November 2021.

COIN/USD price chart. Image: TradingView.

Coinbase is currently valued at $42.6 billion, according to The Block’s data dashboard.

Coinbase stock hits highest level in two years despite second platform glitch in five days

The surge in Coinbase’s share price yesterday saw the stock hit the highest level since January 2022, despite the crypto exchange experiencing its second zero balance platform glitch in five days.

"We are aware some users may experience increased latency ... and a few users may see intermittent zero balance," Coinbase posted on X. "Rest assured, your funds are safe. Our team is investigating this issue and will provide an update. Trading is not impacted at this time," it added, later issuing a fix.

Last Thursday, the U.S.-based exchange reported that heavy traffic caused the same technical glitch to occur. "We had modeled a ~10x surge in traffic and load tested it. This exceeded that number. It's expensive to keep services over-provisioned, but we'll need to keep working on auto-scaling solutions, and killing any remaining bottlenecks,” Coinbase CEO Brian Armstrong explained at the time.