ARK Invest, the asset management firm led by prominent Bitcoin (BTC) advocate Cathie Wood, has sold a significant amount of Coinbase stock ahead of the crypto exchange’s impressive earnings report. According to a filing on Thursday, ARK Invest sold $34.3 million worth of Coinbase shares from three of its funds, including ARK Innovation ETF (ARKK), ARK Fintech Innovation ETF (ARKF), and ARK Next Generation Internet ETF (ARKW). The move marks the first time since January 11 that ARK Invest has divested some of its Coinbase holdings. The sale coincided with a surge in Coinbase’s stock price, which rose 11% in after-hours trading following the release of the company’s earnings report.
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