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News Explorer — Ark Invest Sells $26M in Coinbase Shares Following Ripple Court Ruling

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Jul 18, 6:37 am
The Block

Ark Invest Sells $26M in Coinbase Shares Following Ripple Court Ruling

Cathie Wood's Ark Invest has sold over 248,000 shares of Coinbase, worth $26.3 million, as the stock continues to perform well following the Ripple court ruling. This marks Ark's third sale of Coinbase shares in recent days, with Wood stating that the fund manager is taking profits and reallocating capital. The court ruling in favor of Ripple is seen as positive for Coinbase and has resulted in a surge in its stock price.

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