Cathie Wood's Ark Fund Sells Coinbase Shares for First Time in Almost a Year

Cathie Wood's fund, Ark Investment, reduced its stake in Coinbase for the first time in nearly a year, selling 135,152 shares of Coinbase stock on July 11, its first sale since July 26, 2022, Bloomberg reported. 

Ark is the fourth-largest holder of Coinbase, and the stock rose 9.8 percent after yesterday's filing with the Chicago Board Options Exchange increased optimism that the U.S. could approve a bitcoin ETF.