Cathie Wood's Ark Invest has been in the news recently for offloading a considerable amount of
Bitcoin ETFs and shares from
Coinbase amidst the crypto market surge. It continued to buy during the Coinbase dip but resumed selling as the market plummeted. Ark Labs, backed by Tim Draper, raised $2.5mn funding and seems ready to compete with
Bitcoin's Lightning Network. Amidst these activities, Ark Invest sold a significant portion of their ARKB and COIN holdings. The major focus of Ark Invest seems to be moving from Coinbase towards Tempus AI amid declining crypto prices and market downturns. The continuous shift in decisions indicates an indefinite state for
Ark Coin. However, Ark Invest's reduced exposure to Coinbase due to the drop in Bitcoin price might affect Ark Coin's performance.
Cathie Wood remains bullish on Bitcoin, predicting a rise above $1M. It seems evident that Coinbase's success or downfall heavily impacts Ark Invest's choices on buying or selling. In the latest turn of events, Ark Coin's parent company has dropped a bid for Ether ETF and decided to integrate Chainlink to increase transparency. Ark Coin's spot Bitcoin ETF outflows significantly mark its contribution to crypto strategies devised by Ark Invest.
ARK Coin News Analytics from Thu, 07 Dec 2023 16:53:41 GMT to Tue, 24 Sep 2024 13:45:52 GMT -
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