Ark Invest Sells $26M More Coinbase Shares After SEC Ruling

Cathie Wood's Ark Invest has made its third sale of Coinbase shares in recent days, offloading $26.3 million worth of stock.

The sales occurred on Monday and involved a total of 127,266 shares from the flagship Ark Innovation ETF, 44,784 shares from the Ark Next Generation Internet ETF, and 76,788 shares from the Ark Fintech Innovation ETF.

The transactions come after nearly a year of increasing its holdings in Coinbase. Despite this, Cathie Wood remains 'very positive about Coinbase,' particularly in light of last week's court ruling that favored Ripple against the SEC.