There is a contradictory pattern evident in ARK Invest's relationship with Coinbase stocks. While there are news of frequent acquisitions in the midst of market downturns, transactions during market highs reflect a different story, with prominent sales of stock. As the cryptocurrency market faced a dip,
Ark Invest resumed its Coinbase share acquisitions totaling over $5.4M. However, when the price of Bitcoin retested the $70k mark and failed,
ARK sold $2.7M worth of Coinbase shares. This pattern repeated as
ARK resumed Coinbase share sales with another offload worth about $15 million. In respect to ARK's own digital assets, the firm put up
$21 million in 3iQ Ether ETF after making a major sale of Coinbase stock. For its Bitcoin fund, reports show
the Michigan Retirement System has invested $6.59M. In recent news, the firm has consistently divested from Coinbase,
with sales reaching nearly $150M worth of shares over the last week. On the other hand, Ark Coin experienced
a price surge of 22.6% during the course of a week.
ARK Coin News Analytics from Wed, 06 Dec 2023 08:00:00 GMT to Tue, 06 Aug 2024 14:34:59 GMT -
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