Ark Invest Dumps $12M Coinbase Shares After Loading Up on Ether Treasury Firm Bitmine

Ark Invest, the investment firm led by Cathie Wood, offloaded $12 million worth of Coinbase (COIN) on Thursday, continuing the trend of taking profit from its investment in the crypto exchange.

Recently, Ark has been selling its Coinbase stake and diversifying into other crypto plays. Last week, the firm invested $116 million into the Peter Thiel-backed ether (ETH) treasury firm, Bitmine Immersion Technologies (BMNR).

The investment firm sold a total of 30,501 COIN shares from its two funds. It also sold 11,262 of Robinhood (HOOD) shares, worth around $1.1 million based on Robinhood's last close.

In addition to Coinbase and Robinhood, Cathie Wood's firm also offloaded 123,169 shares of Jack Dorsey's Block Inc (XYZ), worth around $10 million, and 28,906 shares of its own bitcoin ETF (ARKB), worth around $1.1 million.