Source: Sina Finance

In a recent interview, Ark Investment Management founder Cathy Wood tried to rectify what her company is currently selling off her holdings$Coinbase (COIN.US)$The term for stocks.

In the “Ask Me Anything” Q&A session on the social media platform Reddit, a user asked Ark the reason behind selling Coinbase shares.

He specifically hinted that the company was selling off Coinbase shares. In response to his inquiry, Wood clarified that ARK is not selling off, but is actively managing its own portfolio.

According to Wood, “Coinbase has grown roughly 9 times since spring of 2023.”

She notes that Coinbase accounts for more than 10% of Ark's “portfolio. We just made a profit. It's still the number one position, and we're reallocating those profits into stocks, just like Coinbase about a year ago, which were affected by very short-term news, including Tesla, many of which are in the life sciences sector.”

editor/tolk