Cathie Wood’s money managing firm Ark Invest sold shares in Coinbase Global Inc (NASDAQ:COIN) on Monday as the largest U.S. cryptocurrency exchange's stock rallied after several crypto prices rose over the weekend.
Ark Invest sold 75,910 shares — estimated to be worth $26.86 million — in Coinbase via two of its active exchange-traded funds.
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Shares of the cryptocurrency exchange, which have been rising over the past month, closed 5.01% higher at $353.92 a share. The stock has risen 7.8% so far this year.
The stock opened higher on Monday as the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) rose over the weekend, with the latter hitting an all-time high.
See Also: Coinbase Stock Runs Into Earnings As Bitcoin, Ethereum Soar: What's Next?
The two cryptocurrencies hit new milestones on Monday. Bitcoin hit an all-time high of $67,673.74 and Ethereum rose to $4,822.36, according to CoinMarketCap data.
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Coinbase is scheduled to announce its third-quarter numbers after the closing bell on Tuesday.
Ark Invest sold the shares via the Ark Innovation ETF (NYSE:ARKK) and the Ark Next Generation Internet ETF (NYSE:ARKW). The Ark Next Generation Internet ETF (NYSE:ARKF) too holds shares in Coinbase.
The three ETFs held 5.77 million shares — worth $1.94 billion — in Coinbase ahead of Monday’s trades.
See Also: Cathie Wood Trims Coinbase Stake For 2nd Day In Row As Bitcoin Holds Above $56K
Here are some of the other key trades for Ark on Monday:
- Bought 91,323 shares — estimated to be worth $3.47 million — in Robinhood Markets Inc (NASDAQ:HOOD). Shares closed 2.62% higher at $37.98 a share on Monday.
- Bought 203,599 shares — estimated to be worth $52.91 million — in Zoom Video Communications Inc (NASDAQ:ZM). Shares closed 1.81% lower at $259.90 a share.
Photo: Courtesy of Coinbase