ARK Invest, led by Cathie Wood, has been noticeably active in its trading activities, primarily involving
Coinbase stocks and its own
Bitcoin ETFs. ARK showed massive interest in Coinbase amassing roughly $8.4M worth of shares during a market slump. However, due to fluctuating crypto market conditions, ARK exchanged interests, resulting in the sale of $2.7M, $14.8M, and $2.8M worth of Coinbase shares in separate instances.
Bitcoin ETFs by ARK also observed significant shifts with influxes worth $365.7M. However, there were notable outflows led by ARK later leading to losses of about $54M and $59.3M. ARK also disposed of $2.8M worth of its ARKB Spot Bitcoin ETF shares. During this volatile state of the market, ARK made unexpected moves by reviving investments in the Coinbase stock, acquiring more amid the market dump after previously offloading. ARK's decisions were not without calculated risks as it invested in rival stocks such as AMD and a Meta Platforms Rival but decreased Coinbase exposure because of a Bitcoin drop. Moreover, in a drastic turn, ARK acquired $5.4M worth of Coinbase shares when the stock price dropped to a 5-months low.Meanwhile, ARK also focused on other emerging crypto ventures like
Ark Labs, aiming to ameliorate Bitcoin payment options. However, both ARK and 21Shares dropped staking plans from their Ethereum ETF proposal, implying ARK's specific vision with Bitcoin ETF improvements.ARK Invest ended its partnership with 21Shares on Ether ETF, shedding more Coinbase and Nvidia shares in the process. It also offloaded $6.9M worth of Coinbase and equally raised Robinhood shares during a Bitcoin rally.
ARK Coin News Analytics from Thu, 28 Dec 2023 08:00:00 GMT to Wed, 02 Oct 2024 09:07:44 GMT -
Rating 2
- Innovation 3
- Information 7
- Rumor -5
