Cathie Wood sells Block shares

Ark Invest has sold Block, Inc. shares worth $29.1 million in recent days. These sales are part of the restructuring of the ARK Innovation ETF (ARKK).

Block, Inc. founded by Twitter co-founder Jack Dorsey, is a financial services company headquartered in San Francisco.

On a daily basis, Block's shares fell 2 percent and stood at $55.30 at the time of writing. Since the beginning of the year, however, shareholders have suffered a loss of more than 40 percent.

In addition to traditional payment services, Block also offers crypto services. Through the Cash App, users can not only send U.S. dollars, but also buy and sell Bitcoin.

At the same time, Cathie Wood actually invested in Coinbase earlier this week. On Monday, she bought 52,753 Coinbase shares for $9.4 million for the ARKK ETF, as well as 11,605 COIN shares worth $2.1 million for the Fintech Innovation ETF.

Coinbase shares currently stand at $191, down 2 percent from the previous day.