{"id":542838,"date":"2023-07-15T19:35:39","date_gmt":"2023-07-15T19:35:39","guid":{"rendered":"https:\/\/uniquehot.com\/?p=542838"},"modified":"2024-06-11T08:12:06","modified_gmt":"2024-06-11T08:12:06","slug":"ark-invest-sells-coinbase-shares","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ark-invest-sells-coinbase-shares\/","title":{"rendered":"Ark Invest Sells Over $50 Million Worth of Coinbase Shares Amidst Stock Rally"},"content":{"rendered":"

Cathie Wood’s investment firm, Ark Invest, has made significant moves in its holdings of Coinbase shares, selling over $50 million worth of shares as the cryptocurrency exchange’s stock continues to surge.\u00a0<\/span><\/p>\n

This marked the second time in a week that Ark Invest reduced its stake in Coinbase, reflecting its active management approach amid a backdrop of regulatory developments and industry optimism.<\/span><\/p>\n

At the same time, Ark Invest has been actively investing in other notable companies, including Meta Platforms and Robinhood.\u00a0<\/span><\/p>\n

Ark Invest Cashes In on Coinbase Rally<\/h2>\n

Ark Invest, led by Cathie Wood, <\/span>sold<\/span><\/a> a total of 478,356 shares of Coinbase on Friday, amounting to more than $50 million. The sales were spread across Ark’s flagship fund, Ark Innovation ETF, which sold 263,247 shares, Ark Next Generation Internet ETF, which sold 93,227 shares, and Ark Fintech Innovation ETF, which offloaded 121,882 shares.\u00a0<\/span><\/p>\n

Related Reading: XRP Kicks Out BNB To Become 4th-Largest Crypto After 65% Rally<\/a><\/div>\n

This decision comes on the heels of Coinbase’s role as a surveillance-sharing partner for several spot Bitcoin ETF applicants, including industry giants BlackRock and Fidelity. Furthermore, recent legal rulings surrounding the status of the cryptocurrency XRP have added to the overall industry optimism.<\/span><\/p>\n

However, despite the sales, Ark Invest remains the second-largest owner of Coinbase shares, holding a 6.30% stake.\u00a0<\/span><\/p>\n

\"Coinbase<\/p>\n

Ark Invest offloads shares as price recovers | Source: Coinbase Global, Inc., on Tradingview.com<\/a><\/pre>\n
Looking To The Future With Meta Platforms and Robinhood<\/h2>\n
While reducing its Coinbase holdings, Ark Invest has also been actively investing in other crypto-adjacent companies. The firm initiated purchases of shares in Meta Platforms (formerly Facebook) and Robinhood. In June, Ark Innovation ETF acquired 69,793 Meta shares, while Ark Fintech Innovation ETF purchased 111,843 shares of Robinhood.\u00a0<\/span><\/p>\n
Additionally, the Ark Next Generation Internet ETF increased its holdings with 12,559 Meta shares and 169,116 Robinhood shares. These strategic investments reflect Ark Invest’s ongoing strategy to navigate the evolving digital asset market.<\/span><\/p>\n
Ark Invest’s decision to trim its Coinbase holdings after significant acquisitions during market volatility and regulatory challenges demonstrates a calculated approach to secure profits amid the stock’s impressive rally this year and indicates a calculated effort to secure profits during the stock’s rally.<\/span><\/p>\n
Related Reading: Large Exchanges Relist XRP Following Ripple Victory Over SEC<\/a><\/div>\n
Also, it demonstrates the firm’s commitment to diversifying its portfolio for long-term growth potential, as evidenced by its investments in Meta Platforms and Robinhood.\u00a0<\/span><\/p>\n
As the crypto market continues to evolve, Ark Invest’s actions will be closely watched by market participants, looking for insights and guidance in navigating this dynamic landscape.<\/span><\/p>\n
Featured image from Crypto News, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Cathie Wood’s investment firm, Ark Invest, has made significant moves in its holdings of Coinbase shares, selling over $50 million worth of shares as the cryptocurrency exchange’s stock continues to surge.\u00a0 This marked the second time in a week that Ark Invest reduced its stake in Coinbase, reflecting its active management approach amid a backdrop of regulatory developments and industry optimism. At the same time, Ark Invest has been actively investing in other notable companies, including Meta Platforms and Robinhood.\u00a0 Ark Invest Cashes In on Coinbase Rally Ark Invest, led by Cathie Wood, sold a total of 478,356 shares of Coinbase on Friday, amounting to more than $50 million. The sales were spread across Ark’s flagship fund, Ark Innovation ETF, which sold 263,247 shares, Ark Next Generation Internet ETF, which sold 93,227 shares, and Ark Fintech Innovation ETF, which offloaded 121,882 shares.\u00a0 Related Reading: XRP Kicks Out BNB To Become 4th-Largest Crypto After 65% Rally This decision comes on the heels of Coinbase’s role as a surveillance-sharing partner for several spot Bitcoin ETF applicants, including industry giants BlackRock and Fidelity. Furthermore, recent legal rulings surrounding the status of the cryptocurrency XRP have added to the overall industry optimism. However, despite the sales, Ark Invest remains the second-largest owner of Coinbase shares, holding a 6.30% stake.\u00a0 Ark Invest offloads shares as price recovers | Source: Coinbase Global, Inc., on Tradingview.com Looking To The Future With Meta Platforms and Robinhood While reducing its Coinbase holdings, Ark Invest has also been actively investing in other crypto-adjacent companies. The firm initiated purchases of shares in Meta Platforms (formerly Facebook) and Robinhood. In June, Ark Innovation ETF acquired 69,793 Meta shares, while Ark Fintech Innovation ETF purchased 111,843 shares of Robinhood.\u00a0 Additionally, the Ark Next Generation Internet ETF increased its holdings with 12,559 Meta shares and 169,116 Robinhood shares. These strategic investments reflect Ark Invest’s ongoing strategy to navigate the evolving digital asset market. Ark Invest’s decision to trim its Coinbase holdings after significant acquisitions during market volatility and regulatory challenges demonstrates a calculated approach to secure profits amid the stock’s impressive rally this year and indicates a calculated effort to secure profits during the stock’s rally. Related Reading: Large Exchanges Relist XRP Following Ripple Victory Over SEC Also, it demonstrates the firm’s commitment to diversifying its portfolio for long-term growth potential, as evidenced by its investments in Meta Platforms and Robinhood.\u00a0 As the crypto market continues to evolve, Ark Invest’s actions will be closely watched by market participants, looking for insights and guidance in navigating this dynamic landscape. Featured image from Crypto News, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":542842,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83386,3],"tags":[8861,1379,88634,1393,6664],"class_list":["post-542838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-news","tag-ark-invest","tag-coin","tag-coin-stock","tag-coinbase","tag-crypto"],"acf":[],"yoast_head":"\nArk Invest Sells Over $50 Million Worth of Coinbase Shares Amidst Stock Rally<\/title>\n<meta name=\"description\" content=\"Cathie Wood's investment firm, Ark Invest, has made significant moves in its holdings of Coinbase shares, selling over $50 million worth of shares as the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ark Invest Sells Over $50 Million Worth of Coinbase Shares Amidst Stock Rally","url":"http:\/\/uniquehot.com\/news\/ark-invest-sells-coinbase-shares\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ark-invest-sells-coinbase-shares\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/Ark-Invest-Coinbase.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/Ark-Invest-Coinbase.jpeg?fit=1200%2C807"},"articleSection":"Crypto","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ark invest","coin","coin stock","coinbase","crypto"],"dateCreated":"2023-07-15T19:35:39Z","datePublished":"2023-07-15T19:35:39Z","dateModified":"2024-06-11T08:12:06Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ark Invest Sells Over $50 Million Worth of Coinbase Shares Amidst Stock Rally\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ark-invest-sells-coinbase-shares\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ark-invest-sells-coinbase-shares\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/Ark-Invest-Coinbase.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/Ark-Invest-Coinbase.jpeg?fit=1200%2C807\"},\"articleSection\":\"Crypto\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ark invest\",\"coin\",\"coin stock\",\"coinbase\",\"crypto\"],\"dateCreated\":\"2023-07-15T19:35:39Z\",\"datePublished\":\"2023-07-15T19:35:39Z\",\"dateModified\":\"2024-06-11T08:12:06Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/Ark-Invest-Coinbase.jpeg?fit=1200%2C807","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/542838"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=542838"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/542838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/542842"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=542838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=542838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=542838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}