Ark Invest sold part of its shares in Coinbase
Ark Invest, the renowned firm led by Cathie Wood, has strategically liquidated some of its shares, including those of Coinbase (COIN)
In a determined financial move, Ark Invest, the well-known firm led by Cathie Wood, has strategically liquidated some of its shares, including those of Coinbase (COIN), as well as other prominent companies. Simultaneously, the firm has directed capital towards Bitcoin futures ETFs, once again demonstrating its innovative vision in the financial world.
It is striking that among the shares released are those of AMD, Block, Cloudflare, Stratasys, Shopify and the Grayscale trust, GBTC. The released funds have been redirected to ProShares Bitcoin Strategy ETF and Ark 21Shares Active Bitcoin Futures Strategy ETF. This bold move is not alien to Ark Invest’s distinctive style.
It is important to note that three of the sales correspond to companies linked to the cryptocurrency market. It should also be noted that Ark Invest had previously acquired shares of Coinbase at favorable prices, generating notable returns.
On this occasion, the sale of COIN shares totaled 148,885 units, reaching a value of $27.5 million.
K. Tovar
Source: Criptotendencia
(Reference image source: PiggyBank, Unsplash)
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