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In response to the recent surge in Coinbase and Robinhood stock prices, Cathie Wood’s ARK has strategically sold shares to rebalance its portfolios. 
Cathie Wood’s ARK continued its <a href="https://etfs.ark-funds.com/hubfs/1_Download_Files_ETF_Website/Reports/ARK_ETF_Trust_Annual_Report.pdf" data-type="link" data-id="https://etfs.ark-funds.com/hubfs/1_Download_Files_ETF_Website/Reports/ARK_ETF_Trust_Annual_Report.pdf" target="_blank" rel="noopener">selling trend</a> of Coinbase shares, shedding 34,261 COIN valued at $5.5 million across its Innovation ETF and Next Generation Internet ETF. 
This decision comes as <a href="https://crypto.news/tag/coinbase/" data-type="link" data-id="https://crypto.news/tag/coinbase/">Coinbase</a>‘s stock achieved new yearly highs, trading at $161.16, reflecting a 5% increase for the day, a remarkable 66% surge over the past month, and an impressive 342% year-to-date growth. However, the stock remains approximately 53% below its all-time high from November 2021. 
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 <img loading="lazy" decoding="async" width="1024" height="509" src="https://crypto.news/app/uploads/2023/12/COIN_2023-12-20_10-21-17-1024x509.png" alt="ARK sells Coinbase, Robinhood shares amid impressive stock growth - 18" class="wp-image-14229843">
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 1-year price action of $COIN from <a href="https://www.tradingview.com/chart/WUpTyCSt/?symbol=NASDAQ%3ACOIN" data-type="link" data-id="https://www.tradingview.com/chart/WUpTyCSt/?symbol=NASDAQ%3ACOIN" target="_blank" rel="noopener">TradingView</a>
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 You might also like: <a href="https://crypto.news/coinbase-ceo-considers-anti-crypto-bills-as-bad-political-strategy/"> Coinbase CEO considers anti-crypto bills as ‘bad political strategy’ </a> 
This marks ARK’s ongoing effort to rebalance its fund weightings, with last week witnessing the disposal of <a href="https://crypto.news/cathie-woods-ark-invest-sells-another-42-6m-coinbase-shares-1-6m-in-gbtc/" data-type="link" data-id="https://crypto.news/cathie-woods-ark-invest-sells-another-42-6m-coinbase-shares-1-6m-in-gbtc/">$59 million</a> in Coinbase shares. Simultaneously, ARK divested 121,100 <a href="https://crypto.news/tag/robinhood/" data-type="link" data-id="https://crypto.news/tag/robinhood/">Robinhood</a> shares, amounting to $1.6 million from its Fintech Innovation ETF. 
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 <img loading="lazy" decoding="async" width="1024" height="509" src="https://crypto.news/app/uploads/2023/12/HOOD_2023-12-20_10-47-23-1024x509.png" alt="ARK sells Coinbase, Robinhood shares amid impressive stock growth - 19" class="wp-image-14229872">
 <figcaption class="wp-element-caption">
 1-year price action of $HOOD from <a href="https://www.tradingview.com/chart/WUpTyCSt/?symbol=NASDAQ%3AHOOD" data-type="link" data-id="https://www.tradingview.com/chart/WUpTyCSt/?symbol=NASDAQ%3AHOOD" target="_blank" rel="noopener">TradingView</a>
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The move followed ARK’s investment of $3.3 million in HOOD ahead of Robinhood’s crypto trading app <a href="https://crypto.news/robinhood-introduces-commission-free-crypto-trading-app/" data-type="link" data-id="https://crypto.news/robinhood-introduces-commission-free-crypto-trading-app/">launch </a>in Europe. Despite Robinhood stock closing at $13.17, indicating a 10% daily increase and notable growth over the past month and year, it is still down by approximately 76% from its August 2021 peak. 
 Read more: <a href="https://crypto.news/sec-ark-investment-btc-etf-final-deadline-approaches/"> SEC in decision hot seat as Ark Investment BTC ETF final deadline approaches </a>

ARK sells Coinbase, Robinhood shares amid impressive stock growth

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