Cathie Wood's flagship fund made its first sale of Coinbase Global stock in nearly a year on Tuesday, after a meteoric rise for the under-fire cryptocurrency...
Cathie Wood’s flagship fund made its first sale of Coinbase Global stock in nearly a year on Tuesday, after a meteoric rise for the under-fire cryptocurrency exchange.
Wood’s flagship Ark Innovation fund ARKK sold about $12 million worth of Coinbase COIN, according to its daily disclosure, on a day the stock surged nearly 10%. Coinbase is the number-two holding of the fund, at just over 8% weighting, behind only Tesla TSLA. Coinbase... Cathie Wood’s flagship fund made its first sale of Coinbase Global stock in nearly a year on Tuesday, after a meteoric rise for the under-fire cryptocurrency exchange.
Wood’s flagship Ark Innovation fund ARKK sold about $12 million worth of Coinbase COIN , according to its daily disclosure, on a day the stock surged nearly 10%. Coinbase is the number-two holding of the fund, at just over 8% weighting, behind only Tesla TSLA . Coinbase shares have surged 152% this year, piggybacking off the rally in bitcoin BTCUSD , as well as the possibility the company may play a role in several of the spot bitcoin exchange traded funds seeking Securities and Exchange Commission approval.Coinbase executives including CEO Brian Armstrong this month sold about $7 million worth of stock in their company.
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