On Monday, Cathie Wood-led Ark Invest made significant trades, notably offloading shares of Coinbase Global Inc (NASDAQ:COIN) and Block Inc (NYSE:SQ), despite cryptocurrency market fluctuations.



The COIN Trade



Ark Invest sold 30,458 shares of Coinbase through its flagship ARK Innovation ETF (NYSE:ARKK). The transaction amounted to $7.3 million. For the day, Coinbase shares closed 1.13% lower at $239.62. Major cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) traded lower as investors theorized that the markets had become overheated following the approval of spot ETFs, according to a previous report.



Ark Invest decided to sell a substantial number of shares in Coinbase last week as well, despite Bitcoin reaching new all-time highs recently. It was reported earlier that a surge in investments into U.S.-based exchange-traded funds (ETFs) linked to Bitcoin, the digital currency peaked at $73,709. Bitcoin’s rise coincided with a record net inflow of $1.05 billion into Bitcoin spot ETFs on March 12.



The SQ Trade



Ark Invest also reduced its stake in Block Inc., formerly known as Square. The shares were sold at a closing price of $80.86 each, with the total value of the trade being $8.95 million. The trade was executed through the ARKK and ARK Next Generation Internet ETF (NYSE:ARKW), which saw a decrease of 0.0972% and 0.1008% in their holdings respectively.



See Also: Bitcoin, Ethereum, Dogecoin Surge Amid Selling Pressure Over The Weekend: Analyst Says King Crypto To Reach $100K-$150K Post Halving In April



Earlier, Cathie Wood had criticized Hindenburg for its ‘wildly misleading’ report which led to a sharp drop in the Jack Dorsey-led company’s share prices last year.



Other Key Trades: 



<ul>
<li>Ark Invest bought shares of Moderna Inc (NASDAQ:MRNA) through its ARKG and ARKK ETFs. </li>



<li>Shares of Twilio Inc (NYSE:TWLO) were sold through the ARKK and ARKW ETFs. </li>



<li>Ark Invest increased its stake in Unity Software Inc (NYSE:U) across the ARKK, ARKQ, and ARKW ETFs.</li>
</ul>



Read Next: ” Dogecoin Killer’ Shiba Inu Burn Rate Defies Market Action With 933% Surge, Daily Active Addresses Spike By 8%



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COIN

TWLO

MRNA

Cathie Wood-led Ark Invest sold shares of Coinbase and Block despite cryptocurrency market fluctuations. The trades amounted to $7.3 million and $8.95 million respectively. Wood had previously criticized Hindenburg for its report on Jack Dorsey's company. Additionally, Ark Invest bought shares of Moderna and sold shares of Twilio.

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Cathie Wood-Led Ark Invest Sheds Shares Of Jack Dorsey's Block And Coinbase As Bitcoin, Ethereum Take A Breather