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 <li>Cathie Wood’s Investment firm sold its $12 million worth of Coinbase shares on Tuesday.</li> 
 <li>Ark invested in Coinbase 11 months ago and expanded its stake during the crypto market turbulence.</li> 
 <li>Coinbase stock surged by 16% after reaching a settlement with Cboe’s BZX Exchange for ETF applications.</li> 
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 Cathie Wood’s Ark Investment Management LLC sold $12 million worth of shares in <a href="https://coinedition.com/tag/coinbase-news/" rel="noopener noreferrer nofollow">Coinbase Global Inc</a> on Tuesday, amid a rally in the exchange’s stock price. As reported by Bloomberg, Ark Innovation ETF sold off 135,152 shares, giving up its position as Coinbase’s fourth-largest shareholder. 
 Ark’s investment journey in Coinbase started 11 months ago. Ark continued investing till June, persistently expanding its stake through a period of crypto market turbulence caused by increased US regulatory scrutiny, the downfall of Sam Bankman-Fried’s business empire, and a series of bankruptcies. 
 On Tuesday, <a href="https://investor.coinbase.com/stock-information/default.aspx" target="_blank" rel="noopener noreferrer nofollow">Coinbase stock</a> experienced a significant surge, rising by as much as 16%, reaching a peak of $92.15. This jump in value came after the crypto exchange reached a settlement with Cboe’s BZX Exchange to uphold a surveillance-sharing agreement for five of its spot bitcoin exc… 
 The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/cathie-woods-ark-invest-reaps-12m-from-coinbase-stock-rally/">Cathie Wood’s Ark Invest Reaps $12M From Coinbase Stock Rally</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.
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Cathie Wood’s Ark Invest Reaps $12M From Coinbase Stock Rally

Coin Edition

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