is taking some profits from ARK Invest's large Coinbase holdings by selling a small portion of its COIN stash.
The sale comes as the Coinbase stock price has been seeing a sharp increase. On July 11, COIN briefly$90, surging from around $82 to as high as $90.9, according to data from TradingView. Following Wood’s sale, the stock closed at $89 on Tuesday.
One of ARK’s prominent ETFs, the ARK Innovation ETF, shed 135,152 shares of Coinbase ($12 million) on July 11. The trade notification obtained by Cointelegraph showed that the sold amount was 0.14% of the fund’s total assets.
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