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 The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/cathie-woods-ark-invest-sells-53-million-in-coinbase-shares-diversifies-into-meta-and-robinhood/">Cathie Wood’s Ark Invest Sells $53 Million in Coinbase Shares, Diversifies into Meta and Robinhood</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
 Cathie Wood’s investment management firm, Ark Invest, made significant moves in its portfolio by selling Coinbase shares worth $53 million and adding Meta Platforms and Robinhood shares. 
 Cathie Wood’s Ark Invest, known for its forward-thinking investment strategies, has been closely monitored by investors seeking insights into the firm’s ever-evolving portfolio. The decision to reduce its holdings in Coinbase, a leading cryptocurrency exchange, comes as Ark Invest adjusts its exposure to the crypto sector.&nbsp; 
 The sale of Coinbase shares amounted to a significant $53 million, signaling a shift in Ark Invest’s cryptocurrency investment approach. Alongside the Coinbase sell-off, Cathie Wood continues to show interest in Meta Platforms (META) and Robinhood Markets (HOOD) shares. 
 <h2 class="wp-block-heading" id="strong-ark-invest-sells-coinbase-shares-amidst-yearly-high-strong">Ark Invest Sells Coinbase Shares Amidst Yearly High</h2> 
 Cathie Wood, a prominent Bitcoin bull, sold a portion of Ark Invest’s Coinbase (COIN) holdings to profit from Coinbase’s rising stock price. On July 14, Ark Invest, the renowned investment firm led by Cathie Wood sold a total of 478,356 Coinbase (COIN) shares valued at $53 million. The decision to sell came as Coinbase’s stock price reached a yearly high of $114.43.&nbsp; 
 Ark Innovation ETF (ARKK) <a href="https://cathiesark.com/ark-combined-holdings-of-coin" rel="noopener noreferrer nofollow">sold 263,247 COIN</a> shares, ARK Next Generation Internet ETF (ARKW) sold 93,227 COIN shares, and ARK Fintech Innovation ETF (ARKF) offloaded 35,666 COIN shares. 
 <a href="https://coingape.com/crypto-stocks/COIN/" rel="noopener noreferrer nofollow">COIN’s closing price</a> on Friday stood at $105.31, reflecting a 1.58% decline as investors locked in profits. COIN experienced an impressive 33% rally throughout the week, contributing to its year-to-date surge of 213%. Coinbase’s surge, alongside positive developments in the ongoing US <a href="https://coinpedia.org/news/xrp-bulls-on-the-rise-as-ripple-v-sec-lawsuit-nears-end-crypto-lawyer-points-to-positive-outcome/" rel="noopener noreferrer nofollow">SEC v. Ripple lawsuit</a>, also boosted other crypto-related stocks.&nbsp; 
 <h2 class="wp-block-heading" id="h-ark-invest-expands-portfolio-with-meta-and-robinhood-shares">Ark Invest Expands Portfolio with Meta and Robinhood Shares</h2> 
 In addition to the Coinbase sell-off, Cathie Wood’s Ark Invest funds made notable acquisitions of Meta Platforms (META) and Robinhood (HOOD) shares on Friday. The purchases reflect Ark Invest’s strategic diversification into new opportunities within the market. 
 Ark Innovation ETF (ARKK) acquired 69,793 META shares, while ARK Fintech Innovation ETF (ARKF) purchased 111,843 Robinhood shares. ARK Next Generation Internet ETF (ARKW) expanded its holdings with 12,559 META shares and 169,116 Robinhood shares. 
 <a href="https://finance.yahoo.com/quote/META/" rel="noopener noreferrer nofollow">META shares</a> closed at $308.87 on Friday, displaying a nearly 5% increase for the week. Similarly, <a href="https://coingape.com/crypto-stocks/HOOD/" rel="noopener noreferrer nofollow">Robinhood’s stock price</a> surged by 13% during the week, with a closing price of $12.38 on Friday. 
 Cathie Wood’s strategic moves in Ark Invest’s portfolio reflect a proactive approach to capitalizing on market opportunities while diversifying investments. These actions align with Ark Invest’s investment strategies and underscore Wood’s continued optimism in the cryptocurrency and technology sectors.
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Cathie Wood’s Ark Invest Sells $53 Million in Coinbase Shares, Diversifies into Meta and Robinhood

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