ARK Invest, an investment management firm, has recently sold a portion of its holdings in Coinbase as the cryptocurrency exchange's stock reaches a nearly one-year high.
On Tuesday, ARK Invest sold 135,152 Coinbase shares, equivalent to approximately $12 million, from its ARK Innovation ETF, which is one of its prominent exchange-traded funds.
This sale represents around 0.14% of the total holdings of the fund, according to data from Bloomberg.
Related: Understanding Crypto Airdrops: Earning Money in 2023
The decision to sell came as Coinbase stock surged by 9.8% on that day, driven by excitement surrounding the exchange's surveillance-sharing agreement with five spot Bitcoin (BTC) ETF applicants.
It is worth noting that this is not the first time ARK Invest has sold Coinbase shares this year. In March, the company sold
#Bitcoin, #Coinbase, #Cryptomarket, #Cryptonewstoday
First found on: Cathie Wood's ARK Invest Cashes In on Coinbase, Sells 135K Shares as Price Hits $90
Comments
Post a Comment