The latest updates in the cryptocurrency market have shown a complex set of transactions by Ark Invest. The investment firm has been juggling its assets by both buying and selling sizeable amounts of
Coinbase shares amid market volatility. These moves follow the price fluctuations of
Bitcoin, with Ark Invest resuming its purchasing of Coinbase shares whenever Bitcoin's value dips below $50k. Despite these purchases, Ark Invest has repeatedly unloaded millions of dollars' worth of Coinbase shares. In one instance, it sold almost $150m of Coinbase shares. While engaging with Coinbase, Ark also took initiative on its own
ETFs such as the sale of its own spot Bitcoin ETF, and integrated Chainlink's proof-of-reserve feature into its 21Shares Bitcoin ETF, increasing transparency. Interestingly, Ark and 21Shares have postponed their staking plans from their Ethereum ETF proposal. Amid these changes,
Cathie Wood, the firm's CEO, remains bullish on Bitcoin, predicting its price to rise well above $1m. In the midst of asset shuffling, Ark Invest also launched Ark Labs to develop a new Bitcoin Layer 2 payments network, showing innovation in the maturing cryptocurrency market. Finally, Wood discussed Bitcoin with El Salvador's President, applauding his vision for the 'Bitcoin hub'.
ARK Coin News Analytics from Fri, 24 Nov 2023 08:00:00 GMT to Thu, 08 Aug 2024 14:54:59 GMT -
Rating 0
- Innovation 8
- Information 9
- Rumor 3
