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This summary text is fully AI-generated and may therefore contain errors or be incomplete.
ARK Invest CEO Cathie Wood has sold tens of thousands of shares in Coinbase, the leading US crypto exchange. On Monday, ARK sold 43,956 shares of Coinbase as the price of COIN surged to $120. Meanwhile, the Ark Fintech Innovation ETF increased its holdings of trading platform Robinhood by purchasing 143,063 additional shares worth around $1.2 million. Robinhood’s stock price closed at $8.64 on Tuesday, up nearly 3% for the day. In other recent moves, ARK sold shares of Grayscale Bitcoin Trust (GBTC) on November 21st and 22nd, totaling over $2 million. Wood has previously stated that Bitcoin is in a true bull market, citing positive network health and a flight to quality.