Cathie Wood’s ARK Invest is selling more Coinbase shares after the company finished at $105.55 on Monday, just shy of its one-year high of $107.
According to a trading statement put out by the growth-focused fund, it offloaded 248,838 COIN, valued at just over $26 million based on Monday’s closing price.
As the stock continues to perform well, ARK has begun selling off its COIN holdings.
It stated on July 14 that it had sold 480,000 COIN shares across three funds for $50.5 million based on the day’s closing prices. It sold $12 million the prior week as the stock rose.
“We’re very positive about Coinbase, especially in light of the court ruling for Ripple against the SEC,” Wood stated recently on Bloomberg Daybreak Asia.