Ark Invest offloads another $4m in Coinbase shares

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Cathie Wood’s investment form Ark Invest has again sold shares of the Coinbase crypto exchange.

According to the latest data, the deal took place on Jan. 4. Ark Invest sold another 26,743 shares of Coinbase Global Inc. for $4.1 million. The deal comes just days after a massive $25.3 million stock sell-off.

The transaction took place through the ARK Innovation ETF. On the same day, the ETF entered into a transaction to purchase an additional 132,955 Recursion Pharmaceuticals shares valued at approximately $1.48 million.

Coinbase shares rose 2.21% over the last 24 hours to $155.6, according to TradingView data. Shares of Coinbase have grown by almost 350% over the past year.

Source: TradingView

Over the past few weeks, the company’s ETFs have sold more than $200 million worth of Coinbase shares. In addition, the fund is actively selling shares of the GBTC trust from Grayscale Investments. Last month, Ark Invest announced it had wholly sold off these assets.

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