ARK Invest Sells Another $26 Million Worth of Coinbase Shares

The post ARK Invest Sells Another $26 Million Worth of Coinbase Shares appeared first on Coinpedia Fintech News

ARK Invest, the fund manager led by Cathie Wood, has sold more Coinbase shares worth $26 million in its third sale of the cryptocurrency exchange’s stock in recent days. The funds sold shares worth a total of $26.3 million, citing profit-taking, but Wood said that Ark Invest is still “very positive about Coinbase”. The sales came after a ruling in the Ripple case that supported Coinbase’s justification that not all cryptocurrencies qualify as securities. Coinbase shares have rallied significantly, with the trading platform delivering surveillance-sharing support to BlackRock and Fidelity.