Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.

Ark Invest, led by Cathie Wood, has once again reshaped its portfolio by selling over $1.4 million worth of Coinbase Global Inc shares. This decision, following a pattern of recent sell-offs, unfolds during a buoyant period in the cryptocurrency space, notably with Bitcoin trading above the crucial $40,000 threshold.

The recent shift in Ark Invest’s cryptocurrency holdings involved the offloading of 10,218 Coinbase shares through its flagship ARK Innovation ETF and Ark Fintech Innovation ETF.

The sell off happened during a broader rally in cryptocurrencies amid pending decisions on spot Bitcoin ETFs.


Cathie Wood and Ark Invest's trade activity from today 12/4 pic.twitter.com/M560DWhaHn
— Ark Invest Daily (@ArkkDaily) December 5, 2023



Ark Invest Continues to Offload Coinbase Shares.


Coinbase shares, which closed nearly 5.5% higher at $141.09 on Monday, have been subject to Ark’s strategic adjustments.

This is not the first time Ark Invest has trimmed its Coinbase holdings. On November 28, the firm offloaded 43,956 Coinbase shares valued at $5.3 million as the stock reached $119.77, marking its highest point since April 2021.

The strategic move coincided with Coinbase’s impressive 55% surge in share price throughout November, reflecting an improved sentiment in the crypto market.

Ark’s latest Coinbase selling spree follows its significant divestment in July, when the firm sold over $100 million worth of Coinbase shares as prices hovered around $90.

Cathie Wood’s firm has been dynamic in adjusting its exposure to Coinbase, showcasing an ability to capitalize on favorable market conditions while mitigating potential risks.

Simultaneously with the Coinbase sell-off, Ark Invest increased its stake in Robinhood Markets Inc. On Monday, Ark Invest bought 14,704 shares of Robinhood. The purchase comes at the same time the stock and crypto trading platform announced a 75% increase in crypto trading on its platform in November compared to October





Enter your email for our Free Daily Newsletter

A quick 3min read about today's crypto news!



Sign Up





img src="[ Ссылка ]" alt="Image" class="img" id="newsletter-popup-img"

[ Ссылка ]

#crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptoworlddaily #arkinvest #arkinvestnews #arkinvestnewstoday #cathiewood #cathiewoodnews #cathiewoodnewstoday #coinbase #coinbasenews #coinbasenewstoday #robinhood #robinhoodnews #crypto
***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!
This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.
bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple

свернуть