Ark Invest, a renowned investment company, has recently adjusted its portfolio, with substantial trading activity observed in
Coinbase stocks and its own
Bitcoin ETF. Amid a decline in the cryptocurrency market, the company has purchased more of Coinbase shares, nearly
$8.7 million, while selling a similar amount of its own Bitcoin ETF. The company demonstrated a strategic shift from Bitcoin ETF to Coinbase amid crypto market turmoil. Meanwhile, Bitcoin experienced a significant outflow of $43.9 million from Ark's Bitcoin ETF. Notably, Ark Invest also acquired shares of
Tempus AI and
Airbnb amid this reshuffling. Major adjustments have taken place as Bitcoin price dipped well below the anticipated mark of $100,000. Despite this, Ark’s outlook for Bitcoin remains bullish, predicting it could reach
$1.5 million by 2030 due to surging adoption rates. Former Ark analyst, however, voiced concerns over a $10 trillion crypto market cap expectation. These substantial shifts come as insiders trim holdings in Coinbase stocks and Ark Invest offloads a notable portion of its Coinbase shares, reaching as high as $9 million amid market slumps. Still, Ark has on occasions acquired Coinbase shares, suggesting a potential strategy underpinning the change.
ARK Coin News Analytics from Tue, 06 Aug 2024 07:00:00 GMT to Wed, 05 Mar 2025 01:46:46 GMT -
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