cathie wood’s flagship fund made its first sale of coinbase global stock in nearly a year on tuesday after a meteoric rise for the underfire cryptocurrency exchange wood’s flagship ark innovation fund arkk sold about 12 million worth of coinbase coin  according to its daily disclosure on a day the stock surged nearly 10 coinbase is the numbertwo holding of the fund at just over 8 weighting behind only tesla tsla  coinbase shares have surged 152 this year piggybacking off the rally in bitcoin btcusd  as well as the possibility the company may play a role in several of the spot bitcoin exchange traded funds seeking securities and exchange commission approval coinbase is facing an sec lawsuit for allegedly offering unregistered securities coinbase executives including ceo brian armstrong this month sold about 7 million worth of stock in their company