Ark Invest reduced its holdings of Coinbase shares by more than 280,000 shares yesterday, amounting to approximately $40 million

ChainCatcher news, Cathie Wood's investment management company ARK Invest reduced its holdings in Coinbase Global Inc (stock code: COIN) in its two flagship funds yesterday. The ARKK fund reduced its holdings by 239,237 shares of Coinbase, accounting for 0.4102% of the fund's total holdings; the ARKW fund reduced its holdings by 43,867 shares of Coinbase, accounting for 0.3860% of the fund's total holdings. Based on the average price of COIN on that day, 280,000 shares were worth over $40 million.

In addition, the ARKW fund also sold 45,864 shares of the Bitcoin Investment Trust (GBTC).