Cathie Wood's Ark Invest dumps $13.5 million of Coinbase stock as crypto exchange notches 7-month highs

• Cathie Wood's Ark Invest sold $13.5 million worth of Coinbase stock on Tuesday.
• The famed money manager now holds a 7% stake in the crypto exchange worth $837 million.
• Shares of Coinbase are up nearly 30% in the past five trading sessions as crypto prices rallied. 

Cathie Wood's Ark Invest sold $13.5 million worth of Coinbase stock, dumping 160,887 shares from the firm's Ark Fintech Innovation exchange-traded fund Tuesday.

The famed money manager now holds $837 million of the crypto exchange's stock across three of its ETFs. Ark Invest has a 7.03% stake in the Nasdaq-traded company.