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ARK Invest Sells More Coinbase Shares, Keeps Eye on Meta Platforms, Robinhood

As Coinbase inventory soared to a 52-week excessive, ARK Make investments, an funding administration agency led by bitcoin (BTC) bull Cathy Wooden, lately offered extra of its shares within the crypto trade.

Following a big acquisition of Coinbase shares by ARK Make investments throughout a bearish market, the funding agency has offered a portion of its Coinbase holdings for the second time this week. In the meantime, Wooden’s firm is actively investing in Meta Platforms and Robinhood Markets shares.

Buying and selling info seen by Cointelegraph exhibits that on July 14, ARK Make investments offered a complete of 478,356 Coinbase shares price $53 million, which coincides with the inventory’s yearly excessive of $114.43.

Screenshot of ARK Make investments buying and selling notification. Supply: ARK Buying and selling Desk.

Within the transaction, Wooden’s flagship fund ARK Innovation ETF offered 263,247 Coinbase shares, ARK Subsequent Technology Web ETF offered 93,227 Coinbase shares, and ARK Fintech Innovation ETF offered 35,666 shares of the trade.

In June, Wooden started shopping for Meta Platforms shares after the corporate introduced the launch of Threads, a social media app much like Twitter. ARK Innovation ETF purchased 69,793 META shares, whereas ARK Fintech Innovation ETF purchased 111,843 shares of Robinhood. Moreover, ARK Subsequent Technology Web ETF elevated its holdings with 12,559 Meta shares and 169,116 Robinhood shares.

Linked: Permitting Coinbase To Go Public Wasn’t ‘Blessing’ From Regulators – SEC

In line with Coinmarketcap, Coinbase inventory closed down 1.58% on Friday at $105.31, as buyers protected their income. In the course of the week, the worth rallied 33%, reaching a 24-hour excessive of $114.43, representing a year-to-date enhance of 213%. Along with the general surge in crypto-related shares, Coinbase surged following a abstract judgment in the USA Securities and Change Fee v. Ripple lawsuit.

Wooden’s ARK Innovation ETF offered 135,152 Coinbase shares price $12 million on July 11, and ARK Fintech Innovation ETF offered 160,887 Coinbase shares in March.

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