Ark invest, under the stewardship of the ever-dynamic Cathie Wood, has once again made headlines. This time, it’s for offloading a whopping $25 million woth of Coinbase (COIN) shares as January 3, amidst a 3% drop in the stock to $152.24. 

ARK’s Strategic Maneuvers: Beyond Coinbase

ARK Invest has rebalanced its portfolio, acquiring Tesla shares and offloading 237,572 Coinbase shares from its funds. The company also liquidated its Grayscale Bitcoin Trust holdings, redirecting $100 million into the Bitcoin Futures ETF Bito.

The Coinbase Conundrum and ETF Saga

Coinbase, the largest US crypto exchange, faces legal challenges with the SEC for operating without proper registrations. Despite this, Coinbase remains prepared for ETF approvals and is collaborating with Swiss crypto custodian 21Shares on the ARK 21Shares Bitcoin ETF.

ARK Invest’s recent sale of Coinbase shares demonstrates its dynamic investment strategy, led by Cathie Wood. The company navigates the financial world with an eye for opportunity, making bold moves to keep the market on its toes.