Bitcoin News
By Julie Binoche
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Coinbase Shares Trimmed After Record Price. On Tuesday, Ark Invest sold 34,207 shares of Coinbase (COIN), valued at approximately $13.3 million.
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Ark Invest Also Sells $8.7 Million in Its Bitcoin ETF. In a related move, Ark also sold 225,742 shares of its own spot Bitcoin ETF (ARKB) on Tuesday,…
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Strategic Rebalancing Amid Ongoing Market Rally. Ark Invest’s latest activity appears to be driven more by portfolio rebalancing than a change in…
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ETF Inflows Continue Strong Despite Ark’s Sale. While Ark reduced its position in ARKB, the ETF itself continues to see long-term inflows.
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Coinbase and Circle: A Winning Pair. Coinbase’s recent price surge is partly attributed to its partnership with Circle, the company…
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What’s Next?. For Ark Invest, these sales reflect a routine aspect of its investment playbook rather than a…
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Cathie Wood’s Ark Invest has made significant moves this week by trimming its exposure to two top-performing assets: Coinbase stock and its own spot Bitcoin ETF.
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On Tuesday, Ark Invest sold 34,207 shares of Coinbase (COIN), valued at approximately $13.3 million. This sale came right after the crypto exchange stock closed at a record $394.
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Despite the strong rally, Ark’s move is not necessarily a bearish signal. The investment firm adheres to a strict portfolio strategy that limits any single asset to no more than…
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As of July 15, Coinbase is the second-largest holding in Ark’s Next Generation Internet ETF (ARKW), representing a 7.9% weighting, or about $172.8 million.
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Following Monday’s all-time high, Coinbase shares dipped slightly on Tuesday, closing down 1.5% at $388.02, bringing its market cap to around $98.6 billion.
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In a related move, Ark also sold 225,742 shares of its own spot Bitcoin ETF (ARKB) on Tuesday, worth around $8.7 million. This transaction also came from the ARKW fund.
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The decision follows a volatile 48 hours for Bitcoin. On Monday, Bitcoin hit a new all-time high above $123,000 but quickly retraced to under $116,000 before rebounding.
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Despite the sale, ARKB remains one of ARKW’s largest holdings. It currently holds a 7.2% weight in the fund, valued at about $157.
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The moves also coincide with heavy institutional interest in both Bitcoin and crypto-related equities. Ark’s ARKB saw net outflows of $6.
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