First Time in Month, Cathie Wood's ARK Invest Sells Coinbase Shares

An email daily trading report states that ARK raised $34.3 million from the sale of shares held by three separate entities.

Coinbase is scheduled to release its earnings report following the market closure, and the company's value has increased by 19% since its last sale.

On Wednesday, the day before the cryptocurrency exchange was scheduled to announce its fourth-quarter profits, ARK Invest, which is controlled by Cathie Wood, sold Coinbase (COIN) shares for the first time in thirty days.

An email daily trading report states that ARK raised $34.3 million from the sale of shares held by three separate entities. On January 11th, it disclosed that it had sold the shares.

Coinbase, the sole cryptocurrency exchange listed in the United States, has had a 19% increase since then. Yesterday, the share price reached $160.38, a 14% increase, as bitcoin

the biggest cryptocurrency by market size, surpassed $52,000. While everything was going on, the Nasdaq Composite climbed 5.9%.

Increased trading activity due to the crypto market rally could help the exchange achieve better earnings and revenue when it announces its results after the market closes today. The cryptocurrency-focused trading platform Robinhood saw a 10% quarter-over-quarter rise in crypto revenue.

Three exchange-traded funds (ETFs) offered by the investing business were sold: Fintech Innovation (ARKF), Innovation (ARKK), and Next Generation Internet (ARKW).

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