Cathie Wood's ARK Invest has sold a small portion of its Coinbase holdings, offloading 135,152 shares ($12 million) from the ARK Innovation ETF. This marks the second time this year that Wood has taken profits from Coinbase shares. Despite facing a securities violation lawsuit, Coinbase's stock has been on the rise, with a 60% increase in the past month and a 140% increase year-to-date. Multiple Coinbase executives, including CEO Brian Armstrong, have also been selling their shares. The surge in Coinbase's stock price may be fueled by anticipation surrounding the BlackRock spot Bitcoin ETF filing, which involves Coinbase as a surveillance-sharing partner.
