tl;dr
In a recent filing, Ark Invest continued to sell off shares of Coinbase, raising questions about their long-term outlook on the cryptocurrency exchange. Despite a recent decline in stock price, Coinbase has shown substantial growth over the past year and serves a pivotal role as a crypto asset custo...
In a recent filing, Ark Invest continued to sell off shares of Coinbase, raising questions about their long-term outlook on the cryptocurrency exchange. Despite a recent decline in stock price, Coinbase has shown substantial growth over the past year and serves a pivotal role as a crypto asset custodian for traditional financial institutions. The evolving landscape of cryptocurrency investments and the strategies of prominent investment firms like Ark Invest will continue to be closely monitored.
In a recent trade filing, Cathie Wood’s Ark Invest has continued its selling spree of Coinbase Global Inc. shares, disposing of an additional 166,183 shares, valued at approximately $25.3 million, on Wednesday. This move follows a series of recent sell-offs by the investment firm, which have already seen them offload over $200 million of Coinbase shares. The latest trade filing revealed that the ARK Innovation ETF divested 145,048 shares of the cryptocurrency exchange, while the ARK Next Generation Internet ETF sold 21,135 shares on Wednesday. Given the significant reduction in their holdings, these actions have raised questions about Ark Invest’s long-term outlook on Coinbase.
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