Cathie Wood's Ark Invest Dumps Coinbase Shares Amid Bitcoin Crash

Core Insights - Ark Invest sold over $19 million in Coinbase (COIN) shares shortly after increasing its position, as Bitcoin's price dropped to nearly $60,000 [1][3] - Coinbase shares have decreased almost 48% over the last six months, despite a recent 9% increase to around $159.13 [2] - Ark Invest's current valuation of its Coinbase investment is approximately $425 million, making it the seventh-largest investment across its ETFs [3] Group 1: Coinbase and Crypto Market Performance - Ark sold 119,236 shares of COIN as the stock reached its lowest price since March [2] - Bitcoin is down about 17% for the week, trading near $69,000, while Ethereum has seen a 27% decline, sitting just under $2,000 [4] - Despite selling COIN shares, Ark Invest acquired over 716,000 shares of Bullish (BLSH), valued at more than $19 million, as BLSH trades around $27.00 [4] Group 2: Other Investments and Market Sentiment - Ark Invest added 150,000 shares of Brera Holdings (SLMT), valued at around $172,500, despite major crypto treasury firms being underwater on their digital assets [5] - The firm also purchased shares in Alphabet (GOOG) amid macroeconomic concerns regarding AI, with Cathie Wood asserting that gold, not AI, is the real market bubble [6]