Cathie Wood's ARK Sells Coinbase Shares Amid Surging Stock Price

Cathie Wood's investment firm, ARK Invest, has sold 135,152 Coinbase shares worth $12 million from its ARK Innovation ETF, representing 0.14% of the fund's total holdings. This is the second time Wood has taken profits from Coinbase shares this year. Despite facing a securities violation lawsuit, Coinbase's stock price has surged, with a 60% increase over the past month and a 140% increase year-to-date. Multiple Coinbase executives have also sold their shares amid the price rally.