ARK Invest, Bitcoin bull Cathie Wood’s asset management firm, sold Coinbase stock again—this time ahead of the crypto exchange’s impressive earnings report.

In total, ARK Invest sold $34.3 million in shares of the crypto exchange from three of its funds—ARK Innovation ETF (ARKK); ARK Fintech Innovation ETF (ARKF); and ARK Next Generation Internet ETF (ARKW), a Thursday filing showed.

It was the first time since January 11 that it unloaded some of the stock.

The sale came just before Coinbase—which trades as COIN on the Nasdaq—started to jump: priced at $165 per share, it has risen 11% in after-hours trading, fueled by the Thursday earnings report.

ARK Invest is the second biggest holder of Coinbase stock. In January, it sold 166,183 shares—worth $25.3 million.

The firm snaps up tech stocks and other companies related to the AI and crypto space. Three of its funds also bought more Tesla stock, the filing shows.

Electric car company Tesla is one of the largest public holders of Bitcoin.

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Author: Mathew Di Salvo

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