Three funds of Cathie Wood’s Ark Investment Management sold a total of more than 1. 4 million shares of Coinbase Global (COIN) on Tuesday, the firm said in its daily trading update email on Wednesday.

The move comes almost three months after Ark bought more than half a million shares in May. On Tuesday, Coinbase shares closed down 21. 08% at $52.

93. Based on Tuesdays closing price, the value of the offloaded shares would be over $75 milllion. Coinbase shares were trading 5.

72% higher at $55. 96, during after-hours trading. ARK Innovation Exchange-Traded Fund (ETF), or AARK, sold 1,133,495 COIN shares, or 0.

6833% of the funds of the funds total investments. ARK Next Generation Internet ETF, or ARKW, sold 174,611, shares, or 0. 6768% of the funds total investments.

ARK Fintech Innovation ETF, or ARKF, sold 110,218 shares, or 0. 6793% of its total fund investments. Read more: Coinbases Q1 Revenue Misses Estimate as Trading Volume Drops, Shares Fall Almost 16%The plunge in the cryptocurrency market has seen Coinbase digital shares fall from a high of over $400 on its first day of trading in 2021 to as low $40.

30 at one point, as user transactions declined and a report that that U. S. Securities and Exchange Commission is investigating the company for allowing Americans to trade in tokens that should have been registered as securities.

Read More: Ark Investment Funds Bought $246M Worth of Coinbase Shares on First Day of TradingUPDATE (July 27, 09:41 UTC): Adds the value of the shares sold in second bullet, updates after hours movement. .