Cathie Wood’s investment management firm, ARK Invest, is continuing to profit from Coinbase stock, with the first batch of Coinbase shares being sold in 2023.
On March 21, ARK sold 160,887 Coinbase shares from the ARK Fintech Innovation exchange-traded fund (ARKF) for $13.5 million.
And the transaction marks ARK’s first Coinbase stock sale in 2023 after three months of steadily mobilizing. The sale represents 23% of all Coinbase stock ARK acquired through March, and roughly 9% of all Coinbase stock the company bought so far this year.
After the sale, ARK still holds nearly 1.6 million shares of Coinbase purchased in 2023, with shares worth more than $132 million at the time of writing.
On March 21, COIN shares closed at $83.99, withrecoverMore than 130% since the start of the year, but still down about 54% over the past 12 months.
The post Cathie Wood’s ARK Invest sells Coinbase shares for the first time in 2023 appeared first on Bitcoin Addict.