Cathie Wood's ARK Invest Sells $33M of Coinbase Shares, $5.9M of Grayscale Bitcoin Trust

Cathie Wood's ARK Invest sold $33 million worth of $Coinbase (COIN.US)$ stock on Tuesday after the crypto exchange's shares touched a 19-month high on the back of $Bitcoin (BTC.CC.CC)$ 's latest surge, based on the day's closing price.
ARK sold a total of 237,572 COIN shares across three different exchange-traded funds (ETFs): Innovation ( $ARK Innovation ETF (ARKK.US)$ ), Next Generation Internet ( $ARK Next Generation Internet ETF (ARKW.US)$ ) and Fintech Innovation ( $ARK Fintech Innovation ETF (ARKF.US)$ ).

ARK also sold 168,127 shares in digital asset investment manager Grayscale's Bitcoin Trust ( $Grayscale Bitcoin Trust (GBTC.US)$), worth around $5.9 million. GBTC shares closed at $35.10 on Tuesday, their highest level since December 2021.
The investment manager frequently accumulates crypto-related shares at a comparatively low price and then offloads them when they show bullish momentum. Bitcoin gained over 5% in the last 24 hours to top $44,000 for the first time since April 2022.