ARK Investment Management Cuts Stake in Coinbase Global

ARK Investment Management LLC has reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 8.7% in the third quarter.

The firm owned approximately 2,395,540 shares of the cryptocurrency exchange's stock after selling 227,610 shares during this period.

This represents about 4.8% of ARK Investment Management LLC's investment portfolio, making it their second-largest position.