Cathie Wood’s Ark Invest Sells More Coinbase Shares
Ark Invest, the investment firm led by Cathie Wood, has once again sold shares of the popular cryptocurrency exchange Coinbase. This recent transaction took place on January 4th, with Ark Invest selling 26,743 shares of Coinbase Global Inc. for $4.1 million. This comes just days after a significant stock sell-off totaling $25.3 million.
Transaction Details and Additional Purchase
The sale was made through the ARK Innovation ETF, and on the same day, the ETF also purchased an additional 132,955 shares of Recursion Pharmaceuticals valued at approximately $1.48 million.
Coinbase Share Performance
According to TradingView data, Coinbase shares experienced a 2.21% increase in value over the last 24 hours, reaching $155.6. In the past year alone, Coinbase shares have seen remarkable growth of nearly 350%.
Recent Selling Activities
In recent weeks, Ark Invest’s ETFs have sold over $200 million worth of Coinbase shares. Additionally, the firm has been actively selling shares of Grayscale Investments’ GBTC trust. Last month, Ark Invest announced that it had completely divested from these assets.
Hot Take: Ark Invest Continues to Adjust its Crypto Portfolio
As Ark Invest sells off more shares of Coinbase and other crypto-related assets, it demonstrates the firm’s strategy to actively manage its cryptocurrency portfolio. With the rapid growth and volatility of the crypto market, Ark Invest seeks to adapt its holdings to maximize potential returns and mitigate risks.
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