Ark Invest, the investment management company run by Cathie Wood, has sold some of its holdings in Coinbase as the stock price approaches a 52-week high.

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Ark Invest sold off a portion of its Coinbase shares holdings for millions of dollars twice this week after buying them during the bear market. It then went ahead to buy Robinhood and Meta shares.

Transaction records reveal that Cathie Wood’s Ark Invest funds sold 478,356 shares for a total of $53 million on July 14, when Coinbase (COIN) hit a new annual high of $114.43. At $114.43, the price of COIN had risen 33% from its previous low this week and 213% from its yearly low.

Cathie Wood’s Coinbase shares liquidation

Cathie Wood’s flagship funds ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF) sold 263,247 COIN shares, 93,227 COIN shares, and 35,666 COIN shares respectively.

Previously on July 11, ARK Fintech Innovation ETF sold 160,887 Coinbase shares (worth $12 million), while ARK Innovation ETF sold 135,152 Coinbase shares.

The recent Coinbase liquidation by Cathie Wood’s funds followed the ruling in the Ripple case that caused Coinbase and other stocks with a crypto focus to increased. However, the price of COIN shares fell to $105.31 on Friday.

Cathie Wood banks on Robinhood and Meta shares

Cathie Wood started buying Meta shares when Meta Platforms announced the launch of “Threads,” a social networking site akin to Twitter that has since attracted more than 100 million users.

After offloading some of her investment in Coinbase, Cathie Wood’s Ark Invest funds on Friday invested in Meta Platforms Inc. (META) and Robinhood Markets Inc. (HOOD) on Friday.

The ARK Fintech Innovation ETF acquired 111,843 shares of Robinhood, while the ARK Innovation ETF purchased 69,793 shares of META. ARK Next Generation Internet ETF also holds 12,559 META shares and 169,116 Robinhood shares.

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