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In the past few weeks, the cryptocurrency business has experienced a significant surge in the stock market landscape. Following this substantial growth in the crypto business on the stock market, Cathie Wood’s Ark Invest is aggressively selling its Coinbase shares. Cathie Wood’s ARK Invest offloaded Coinbase Share 
Recently, on December 6, 2023, Ark Invest sold a significant $24.2 million worth of Coinbase shares. This massive selling was observed when Coinbase shares experienced a 7% surge in the last five days, closing at $140.20 on Wednesday, there was a 4% dip in pre-market trading.&nbsp; 
Cathie Wood and Ark Invest's trade activity from today 12/6 
Ark Invest, in conjunction with the sale of Coinbase shares, also offloaded a massive $3.4 million worth of shares in the Grayscale Bitcoin Trust (GBTC) on the same day. Notably, Ark Invest’s decision to sell comes amidst a broader crypto rally, with Bitcoin experiencing a significant surge and trading just near $44,000 at the time of writing. Additionally, <a href="https://news.todayq.com/bitcoin-continued-rise-gold-faces-challenges/">Bitcoin price surged</a> nearly 16% in the last seven days as well as when the GBTC shares discount was narrowed down to 8%. ARK Invest profits amid recent price surge? 
Despite the recent sell-off, Ark Invest still holds a significant 6,847,644 Coinbase shares, worth around $960 million, constituting 11.64% of all ARKK holdings.&nbsp; 
By examining this move by ARK Invest, it appears that the firm is taking benefit of the recent price surge of Coinbase and GBTC shares. However, the recent selling was executed through several exchange-traded funds (ETFs), such as Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF), resulting in the offloading of 120,433 Coinbase shares. 
Several factors contribute to the surge in Bitcoin prices, such as optimism surrounding the potential approval for a spot BTC Exchange Traded Fund (ETF) in the United States and anticipation of the Federal Reserve lowering interest rates in the coming months. 
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Cathie Wood’s ARK Invest books profit from Coinbase and GBTC shares: Report

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