Cathie Wood's ARK ETF has been diligently maneuvering its portfolio, notably purchasing Amazon and Coinbase stocks while divesting Robinhood shares. The ETF also boosted its holdings in Coinbase, during the company's post-debate dip. A trend has emerged with ARK increasingly placing its faith in
Coinbase amid the crypto market's fluctuations. On the flip side, ARK reduced its shares of companies such as Palantir, Block (formerly known as Square), and even Robinhood. The fund also withdrew from its own spot Bitcoin ETF, diverting investments towards the
3iQ Ether staking ETF. Tim Draper led a $2.5 million funding round for Ark Labs, a startup aimed to facilitate Bitcoin transactions. However, there are signs that ARK might be moving away from Bitcoin-centric investments as it offloaded ProShares Bitcoin Future ETF shares. It's been suggested that Ark may glean insights from projects like
Lightning, which would have a significant effect on its strategy. Amid these many moves, ARK's stance on the Bitcoin and Ethereum ETFs has fluctuated, a stark contrast to firms such as Michigan's pension fund which has secured investments in Bitcoin through ARK's 21Shares ETF. Overall, ARK continues to reposition its assets to better navigate the volatile crypto-economy.
ARK Coin News Analytics from Sun, 21 Jan 2024 07:46:31 GMT to Wed, 06 Nov 2024 00:30:00 GMT -
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- Innovation 7
- Information 4
- Rumor -6
