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Cathie Wood’s ARK Invest has offloaded more than $97 million in Coinbase (COIN) shares in February alone, according to trading history. 
Despite <a href="https://crypto.news/tag/coinbase/" target="_blank" rel="noreferrer noopener">Coinbase</a>‘s <a href="https://crypto.news/coinbase-reports-profits-for-first-time-in-two-years/" target="_blank" rel="noreferrer noopener">impressive</a> Q4 earnings report, which revealed a revenue of $953.8 million, surpassing analysts’ projections, <a href="https://crypto.news/tag/ark-invest/" target="_blank" rel="noreferrer noopener">ARK Invest</a> appears to be adhering to its own investment strategy by unloading nearly $100 million in COIN shares. 
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 <img loading="lazy" decoding="async" width="1024" height="398" src="https://crypto.news/app/uploads/2024/02/gsyuldhfysdhf-1024x398.png" alt="ARK Invest offloads nearly $100m in Coinbase shares despite reassuring that platform 'executing brilliantly' - 27" class="wp-image-14250158">
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 ARK Invest trades | Source: CathiesArk
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According to <a href="https://cathiesark.com/arkk/trades" target="_blank" rel="noopener">data</a> from CathiesArk, ARK Invest made two transactions with COIN shares in February so far, selling more than 544,000 shares valued at over $97 million at the current share price. Cumulatively, ARK Invest has divested nearly $130 million worth of COIN shares since the beginning of the year. 
Nevertheless, ARK Invest CEO <a href="https://crypto.news/tag/cathie-wood/">Cathie Wood</a> remains bullish on Coinbase, saying the platform is “executing brilliantly.” Speaking of Coinbase’s price performance in an <a href="https://finance.yahoo.com/video/coinbase-executing-brilliantly-ark-invests-225809474.html" target="_blank" rel="noreferrer noopener">interview</a> with Yahoo Finance, Wood also indicated the rally has “just begun,” as the firm best big on the exchange. 
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 “So, we think we have just begun from a price appreciation point of view. This is part of a journey.” 
 Cathie Wood 
</blockquote> 
As of press time, ARK Invest maintains a position of over 4.8 million COIN shares. Earlier, crypto.news <a href="https://crypto.news/coinbase-reports-profits-for-first-time-in-two-years/" target="_blank" rel="noreferrer noopener">reported</a> that Coinbase’s revenue growth in Q4 2023 surged by 45.2% compared to Q3 2023. Additionally, the company reported a net income of $273 million, or $1.04 earnings per share, significantly exceeding analysts’ expectations. 
 Read more: <a href="https://crypto.news/coinbase-stock-profitability-2024/"> Coinbase stock turns bullish, expects profitability in 2024 </a>

ARK Invest offloads nearly $100m in Coinbase shares despite reassuring that platform ‘executing brilliantly’

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