Cathie Wood's Ark Invest sold 1.42 million shares of cryptocurrency exchange Coinbase Global Inc , according to Tuesday's trading data from the investment company, following report of a probe by the U.S. securities regulator.

The U.S. Securities and Exchange Commission was investigating whether Coinbase improperly let Americans trade digital assets that should have been registered as securities, Bloomberg News reported on Monday.

Coinbase shares closed down more than 20% at $52.93 on Tuesday.

(Reporting by Shivani Tanna in Bengaluru)