From Nasdaq:

Cathie Wood’s Ark Invest investment strategy focuses on innovative companies like Coinbase Global. Ark Invest initially purchased around 7 million shares at Coinbase’s IPO but recently sold a chunk of its position. Despite the selling, they still own more than 8 million shares worth over $1.5 billion.

Ark Invest sold around 1.3 million Coinbase shares to secure some profits. However, they remain overwhelmingly optimistic about Coinbase for the long term. They emphasize key drivers like increased cryptocurrency regulations, institutional interest, and business model overhaul as reasons to remain positive on Coinbase.

It’s important to remember that Ark Invest’s strategy differs from individual investors. Their selling should be seen as a calculated adjustment rather than a lack of confidence. Without needing to attract new customers and remain competitive in the financial investment landscape, investors are better off sticking with Coinbase for the long haul.



Read more: Cathie Wood Keeps Selling Millions of Dollars in Coinbase Stock, Should You?