Ark Invest sold $90.58 million worth of Coinbase shares yesterday

ChainCatcher news, according to The Block, Cathie Wood's investment firm Ark Invest sold 218,986 shares of Coinbase (COIN) stock through its three ETFs on Monday, worth $90.58 million.

On the same day, Ark also reduced its holdings of Robinhood stock worth $11.46 million and Block stock worth $7 million. The investment strategy employed by Ark limits the ownership of a single stock to no more than 10% of the fund's portfolio to maintain investment diversification.