Cathie Wood's Ark Invest Dumps Over $1.4M Worth Of Coinbase Shares Amid Crypto Rally, Buys More Robinhood

On Monday, Cathie Wood-led Ark Invest made a significant move in the cryptocurrency market, continuing its trend of selling shares of Coinbase (COIN). This decision comes amidst a buoyant period in the crypto world with the apex cryptocurrency, Bitcoin, trading above the psychologically important $40,000 mark. The rally in cryptocurrencies has been fueled by a myriad of factors including pending spot Bitcoin ETF decisions.

Ark Invest offloaded over $1.4 million worth of Coinbase’s shares, while simultaneously increasing its stake in Robinhood (HOOD).