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Ark Invest sells more Coinbase shares, eyes Meta platforms, Robinhood

CryptofreePress Staff by CryptofreePress Staff
July 15, 2023
in Bitcoin
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Ark Invest sells more Coinbase shares, eyes Meta platforms, Robinhood

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Because the inventory worth of Coinbase (COIN) reaches a 52-week excessive, Ark Make investments, the funding administration agency led by Bitcoin (BTC) bull Cathie Wooden, has not too long ago divested extra of its Coinbase shares.

Following Ark Make investments’s vital acquisition of Coinbase shares in the course of the bear market, the funding agency has not too long ago bought off a portion of its Coinbase holdings for the second time this week. Within the meantime, Cathie Wooden, the outstanding Bitcoin advocate, is actively investing in Meta Platforms (META) and Robinhood Markets (HOOD) shares.

Commerce data noticed by Cointelegraph reveals that on July 14, Cathie Wooden’s Ark Make investments funds divested a complete of 478,356 Coinbase (COIN) shares valued at $53 million, coinciding with the inventory’s yearly excessive of $114.43.

Screenshot of  ARK Make investments buying and selling notification. Supply: ARK Buying and selling desk.

Within the transactions, Cathie Wooden’s flagship fund ARK Innovation ETF (ARKK) divested 263,247 COIN shares, ARK Subsequent Technology Web ETF (ARKW) bought 93,227 COIN shares, and ARK Fintech Innovation ETF (ARKF) offloaded 35,666 COIN shares.

In June, Cathie Wooden initiated the acquisition of Meta Platforms shares after the corporate introduced the launch of “Threads,” a social media app much like Twitter. ARK Innovation ETF (ARKK) acquired 69,793 META shares, whereas ARK Fintech Innovation ETF (ARKF) bought 111,843 shares of Robinhood. Moreover, ARK Subsequent Technology Web ETF (ARKW) elevated its holdings with 12,559 META shares and 169,116 Robinhood shares.

As per CoinMarketCap, the closing worth of COIN inventory on Friday stood at $105.31, experiencing a 1.58% decline as traders secured their income. In the course of the week, COIN worth surged by 33%, reaching a 24-hour excessive of $114.43, and displaying a powerful year-to-date improve of 213%. Along with the general upswing in crypto-related shares, Coinbase witnessed a notable rise following the abstract judgment within the US SEC v. Ripple lawsuit.

Associated: Permitting Coinbase to go public was not a ‘blessing’ from regulators — SEC

Cathie Wooden’s ARK Innovation ETF (ARKK) bought 135,152 Coinbase (COIN) shares value $12 million on July 11 and ARK Fintech Innovation ETF (ARKF) bought 160,887 Coinbase (COIN) shares in March.

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