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ARK Invest Sells More Coinbase Stock, Targets Meta Platforms, Robinhood

Published on

July 15, 2023
Read Time:1 Minute, 46 Second

As Coinbase inventory hits a 52-week excessive, ARK Make investments — the funding administration agency headed by Bitcoin (BTC) bull Cathie Wooden — just lately bought extra shares within the crypto alternate.

Following ARK Make investments's important acquisition of Coinbase shares in the course of the bear market, the funding agency has bought a portion of its Coinbase holdings for the second time this week. In the meantime, Wooden's agency is actively investing in Meta Platforms and Robinhood Markets shares.

Buying and selling data seen by Cointelegraph exhibits that ARK Make investments bought a complete of 478,356 Coinbase shares valued at $53 million as of July 14, coinciding with the inventory's yearly excessive of $114.43.

Screenshot of ARK Make investments's commerce notification. Supply: ARK Buying and selling Desk.

Within the transactions, Wooden's flagship fund ARK Innovation ETF bought 263,247 shares of Coinbase, ARK Subsequent Technology Web ETF bought 93,227 shares of Coinbase, and ARK Fintech Innovation ETF bought 35,666 shares from the alternate.

In June, Wooden initiated the acquisition of Meta Platforms inventory after the corporate introduced the launch of Threads, a social media app just like Twitter. The ARK Innovation ETF acquired 69,793 Meta shares, whereas the ARK Fintech Innovation ETF acquired 111,843 Robinhood shares. Moreover, the ARK Subsequent Technology Web ETF elevated its holdings by 12,559 Meta shares and 169,116 Robinhood shares.

Associated: Coinbase's IPO was not a "blessing" from regulators - SEC

In keeping with CoinMarketCap, that's Close Coinbase inventory was buying and selling at $105.31 on Friday, down 1.58% as buyers locked in features. Over the week, the value surged 33% to hit a 24-hour excessive of $114.43, up 213% year-to-date. Including to the overall uptick in crypto-related shares, Coinbase surged following a abstract judgment within the US Securities and Change Fee's lawsuit towards Ripple.

Wooden's ARK Innovation ETF bought 135,152 Coinbase shares valued at $12 million on July 11, and ARK Fintech Innovation ETF bought 160,887 Coinbase shares in March.

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : July 15, 2023
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