Ark Invest sells $3.9m worth of Coinbase – Why is Cathie Wood offloading COIN shares?
Ark Invest unloaded over $3 million worth of Coinbase shares from the ARKF ETF. The sale occurred after Coinbase recorded a 10% decline after Jerome Powell’s speech. According to the firm, the move aims to rebalance its fund weightings. Cathie Wood’s investment manager, ARK Invest, sold over 13,700 shares of crypto exchange Coinbase(COIN) on December…