{"id":36315,"date":"2023-07-16T05:28:45","date_gmt":"2023-07-16T09:28:45","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/cathie-woods-ark-etfs-sold-50-million-in-coinbase-stock\/"},"modified":"2023-07-16T05:28:47","modified_gmt":"2023-07-16T09:28:47","slug":"cathie-woods-ark-etfs-sold-50-million-in-coinbase-stock","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=36315","title":{"rendered":"Cathie Wood\u2019s ARK ETFs sold $50 million in Coinbase stock"},"content":{"rendered":"
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Cathie Wood\u2019s ARK Invest cashed in on the recent record really in Coinbase Global Inc.\u2019s stock by selling nearly half-a-million shares, but the cryptocurrency exchange remained among the top holdings of some of her exchange-traded funds.<\/p>\n

ARK Invest disclosed in an email to investors late Friday that three of its ETFs sold Coinbase shares
\n COIN,
\n -1.58%<\/bg-quote>,<\/span>
\n valued at a little over $50 million at Friday\u2019s closing price of $105.31.<\/p>\n

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The sales come after the stock rocketed a record 24.5% on Thursday, the biggest one-day gain since Coinbase went public in April 2021, after a court ruling involving cryptocurrency tokens was viewed as helping the company in its case against securities regulators.<\/p>\n

On Friday, Coinbase\u2019s stock pulled back 1.6%. It was still up 47.2% so far in July, and has run up 197.6% year to date. In comparison, bitcoin
\n BTCUSD,
\n -0.05%<\/bg-quote>
\n has rallied 82.5% this year and the S&P 500 index
\n SPX,
\n -0.10%<\/bg-quote>
\n has advanced 17.3%.<\/p>\n

Also read<\/strong>: Coinbase stock explodes higher as enthusiasm builds for spot bitcoin ETFs.<\/p>\n

Here were the ARK ETF\u2019s Coinbase stock sales on Friday, with the value of the stock sold as of Friday\u2019s closing price in parentheses:<\/p>\n