News - Cathie Wood sells Coinbase shares for $25 million

By Mike Hesp

Cathie Wood sells Coinbase shares for $25 million

Bitcoin (BTC)
Developments

Ark Invest is once again selling shares in Bitcoin exchange Coinbase. The company is selling another 166,183 shares - worth $25.3 million.

The backdrop is the ongoing rally in the crypto market. In the wake of the phenomenal annual performance of Bitcoin in 2023 also increased related securities such as shares of Coinbase.

This necessitated a rebalancing of stocks in two ETFs managed by ARK. Indeed, Ark has set a goal that no single security represents more than 10 percent of the portfolio's value.

Recently, Ark CEO Cathie Wood has repeatedly disposed of Coinbase shares. In total, the liquidations total more than $225 million - one-fifth of all shares held by Ark.

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