Cathie Wood's Ark buys into Coinbase, sells a bit of Tesla

FILE PHOTO: The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. REUTERS/Shannon Stapleton

LONDON (Reuters) - Cathie Wood's Ark funds bought $246 million worth of Coinbase shares on the cryptocurrency exchange's Nasdaq debut on Wednesday and sold some Tesla shares, according to their daily fund trading summary.

A chunky $168 million of Coinbase shares were added to its flagship ARK Innovation fund, and the remainder went into its next generation and fintech innovation funds.