As Coinbase (NASDAQ:COIN) stock reaches a 52-week high, ARK Invest — the investment management firm led by Bitcoin (BTC) bull Cathie Wood — has recently sold more of its shares in the crypto exchange.
Following ARK Invest’s significant acquisition of Coinbase shares during the bear market, the investment firm has sold off a portion of its Coinbase holdings for the second time this week. Meanwhile, Wood’s firm is actively investing in Meta Platforms and Robinhood (NASDAQ:HOOD) Markets shares.