Ark Invest, led by Cathie Wood, has sold 218,986 shares of Coinbase (COIN) valued at approximately $90.58 million. The sale involved three of its ETF products: ARKK, ARKW, and ARKF, following Coinbase's stock reaching an all-time high of over $437. This move comes after the U.S. House of Representatives passed legislation on stablecoin and digital asset regulation. In addition to reducing its Coinbase stake, Ark Invest also sold 109,824 shares of Robinhood, worth $11.46 million, and 90,061 shares of Block, valued at $7 million. The investment firm adheres to a strategy of not holding more than 10% of its portfolio in a single stock, prompting regular rebalancing based on asset price changes.