ARK Invest Sells $33M of Coinbase Shares Amid Crypto Surge

Cathie Wood's firm offloads significant crypto holdings, while expanding investments in fintech, healthcare, and tech sectors.

Cathie Wood's ARK Invest sold $33 million worth of Coinbase stock and $5.9 million of Grayscale Bitcoin Trust shares.
The sale of Coinbase shares was one of ARK's largest daily sales in 2023.
Coinbase stock has been posting new yearly highs, surging 280% year to date.
Despite the sale, Coinbase remains the biggest asset in the portfolio of the ARKF ETF, accounting for more than 13% of its net assets.
ARK Invest also increased its stake in SoFi Technologies and made significant investments in the healthcare and tech sectors.