ARK Invest extends Coinbase stock sales to $196.8 million in December

ARK Invest, the investment firm led by Cathie Wood, has continued to sell off its Coinbase stock, with December sales totaling $196.8 million. The firm often reduces its holdings in individual companies as their shares rise, in order to maintain a maximum exposure of around 10%. ARK Invest also reduced its holdings in the Grayscale Bitcoin Trust, while increasing its holdings in Block, which offers payments in cryptocurrency. Bitcoin has rallied 3.3% and crossed $44,000 for the first time in 10 days.