Ark Invest Keeps Selling its Essential Holdings to Buy Even More Bitcoin

Kathy Wood's Ark Invest sold another chunk of Coinbase (COIN) shares, bringing this week's total Ark’s COIN sales to over $100 million dollars. Katie Wood's Ark Invest sold another 204,469 shares of Coinbase stock worth $48.8 million on Wednesday.

The investment firm plans to buy more Bitcoins (BTC) into its funds with the proceeds.

Of the nearly $50 million worth of COINs sold, Ark Invest sold the most shares from its Innovation ETF – 174,326 shares worth $41.6 million. Ark also unloaded 13,490 shares ($3.2 million) from its Next Generation Internet ETF and 16,653 shares ($4 million) from its Fintech Innovation ETF.