ARK Sells $26 Million in COIN, Taking Profits, Wood Reveals

ARK Invest, led by Cathie Wood, has sold an additional $26 million worth of Coinbase shares as the stock nears its one-year high. This comes after previous sell-offs of COIN shares totaling $62.5 million. Wood stated that the fund remains positive about Coinbase but is taking profits and reallocating capital to other investments. Additionally, ARK has written down its stake in Twitter by 47% since Elon Musk took it private last year.