On Thursday, Cathie Wood, the CEO of Ark Invest, sold 166,183 shares of Coinbase Global worth $25.3 million and continues to reduce her stake in the company. According to the latest transaction information, the ARK Innovation ETF sold 145,048 shares of Coinbase, while the ARK Next Generation Internet ETF sold 21,135 shares of this digital currency exchange. This comes after Ark Invest sold over $200 million worth of Coinbase shares in the past few weeks. On Thursday, Coinbase shares dropped by 2.96% to reach $152.24, despite experiencing over 300% growth in the past year. As a cryptocurrency custodian for ETFs, Coinbase has been selected by traditional financial institutions, including BlackRock. BlackRock is one of the few companies that has applied for a spot Bitcoin ETF.