Ark Invest, Coinbase Stocks $13.3 Million Sold... Adjusting Proportion?

'Money tree sister' Cathie Wood of ARK Investment has partially liquidated its holdings in Coinbase.

According to The Block on the 17th (local time), ARK Investment sold about $13.3 million worth of Coinbase stock through its ETF, ARKW. This appears to be a measure for partial profit-taking and portfolio rebalancing as Coinbase's stock price recently shows an upward trend.

ARK Investment has been heavily investing in related stocks such as Coinbase, Robinhood, and Circle based on strong trust in the Bitcoin and virtual asset industry. However, recently there seems to be a selling movement in some related stocks, leading to simultaneous profit realization and portfolio adjustment.