ARK Invest, Cathie Wood’s asset management firm, has sold roughly $181 million worth of Coinbase and $64 million worth of Grayscale Bitcoin Trust shares since November 21, according to disclosures for its ETF trades.

It’s one thing to frequently see the firm taking profits on its COIN and GBTC holdings over the past month, but quite another when it all tallies up to nearly $245 million. The totals were calculated by Decrypt using each share’s closing price for the days when ARK reported what it bought and sold to rebalance its holdings.

Cathie Woods is CEO of ARK Invest, a Bitcoin- and crypto-friendly financial firm with $6.7 billion in assets under management. In fact, they put out a monthly report on Bitcoin. The company tends to keep its Coinbase and Grayscale Bitcoin Trust holdings in three of its ETFs: The ARK Fintech Innovation ETF (ARKF), Ark Innovation ETF (ARKK), and the ARK Next Generation Internet ETF (ARKW).

And Wood never misses a chance to sing Bitcoin’s praises. “Just wanted to show you where Bitcoin is—it’s been the best performing asset this year,” she said during a recent video on the firm’s YouTube channel. Since the start of the year, Bitcoin has climbed 161%.

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Author: Stacy Elliott

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