The investment management company run by Cathie Wood, ARK Invest, recently sold an additional $5 million worth of Coinbase (COIN) stock in addition to purchasing $1.5 million in online bank SoFi Technologies (SOFI) and $2 million worth of shares in trading platform Robinhood (HOOD).
Following the offload of 43,956 shares on Monday, the Ark Fintech Innovation ETF (ARKF) is selling 38,668 COIN shares. On Wednesday, COIN was essentially unchanged, ending the day at $127.82, down 0.35%.
The HOOD acquisition marked ARK’s seventh of the month, and it comes at the same time as the company launches its third overseas expansion initiative—stock trading in the United Kingdom. Based on closing prices, ARK has invested about $13.5 million in Robinhood this month. On Wednesday, the shares increased 3.24% to $8.92.
Meanwhile, SoFi Technologies announced that it was leaving the cryptocurrency industry and giving Blockchain.com its clientele. To $7.35, SOFI dropped 0.14%.