Bearish
ARK Invest sells $22M in Coinbase stock, adding to Bullish position
In the past 24 hours, ARK Invest, led by Cathie Wood, sold approximately $22 million worth of Coinbase (COIN) shares across multiple ETFs, continuing its recent trend of reducing exposure to the cryptocurrency exchange. Simultaneously, ARK increased its stake in digital asset platform Bullish, indicating a strategic shift in investment focus.
Key points
- ARK Invest sold 134,472 Coinbase shares, valued at around $22.1 million, across its ETFs.
- Coinbase's stock closed at approximately $165, up about 13% on the day, but still down 26% year-to-date.
- ARK's Bullish stake increased by 393,057 shares, worth $10.7 million, across multiple funds.
Sources
AI-generated from public news sources. Not financial advice.
