COIN

Generation

The selloff of Coinbase and Robinhood shares by Cathie Wood’s asset investment firm Ark Invest keeps going, with no imminent signs of a slowdown in the selling spree. Ark Invest funds again pared holdings in Coinbase (COIN) and Robinhood (HOOD) shares worth millions despite the sky-high positive sentiment because of bull market and approaching <a href="https://coingape.com/halving/bitcoin-halving" target="_blank" rel="noopener">Bitcoin halving</a>. 
Coinbase and Tesla shares are the largest holdings in Cathie Wood’s funds, as per data by <a rel="nofollow" href="https://ark-funds.com/funds" target="_blank">Ark Invest</a>. Ark Invest CEO Cathie Wood has revealed in a Reddit AMA that its <a href="https://coingape.com/coinbase-coin-share-sale-is-active-management-cathie-wood/" target="_blank" rel="noopener">Coinbase</a> share sale is not dumping but active portfolio management. Additionally, Wood reaffirms Bitcoin price can hit $1.5 million in 2030. 
<h2 id="cathie-wood-s-ark-invest-sells-in-coinbase-and-robinhood">Cathie Wood’s Ark Invest Sells in Coinbase and Robinhood</h2> 
Cathie Wood’s Ark Invest sold a total of&nbsp;95,284 Coinbase shares worth nearly $23 million this week, as per trades seen by CoinGape. Also, the funds have sold 1,589,381 Robinhood shares worth nearly $30 million. 
On April 1, Ark Innovation ETF (ARKK) sold 6255 COIN shares and 449,518 HOOD shares, Ark Next Generation Internet ETF (ARKW) offloaded 775 Coinbase shares and 161,261 Robinhood shares, and Ark Fintech Innovation ETF (ARKF) sold 53,017 HOOD shares. 
April 4, Ark Innovation ETF (ARKK) sold 22,690 COIN shares and Ark Next Generation Internet ETF (ARKW) offloaded 2,972 Coinbase shares. 
On April 5, Ark Innovation ETF (ARKK) sold 52,292 COIN shares and 695,995 HOOD shares, Ark Next Generation Internet ETF (ARKW) offloaded 10,320 Coinbase shares and 197,757 Robinhood shares, and Ark Fintech Innovation ETF (ARKF) sold 31,833 HOOD shares. 
Coinbase (<a href="https://coingape.com/crypto-stocks/COIN/" target="_blank" rel="noopener">COIN</a>) price closed 3.49% lower to $240.90 on Friday, but recovered 0.71% after market hours. The performance of Coinbase shares was low this week as the price fell 7.94%. 
<a href="https://coingape.com/crypto-stocks/HOOD/" target="_blank" rel="noopener">HOOD price</a> fell 7.58% this week. Robinhood Markets stock price closed 0.27% lower at $18.40 on Friday, with a 0.33% more fall after market hours. 
Also Read: <a title="Binance, BinanceUS, CZ Resolve All Discovery Disputes With US SEC, Here’s What Next" href="https://coingape.com/binance-binanceus-cz-resolve-all-discovery-disputes-with-us-sec-heres-what-next/" target="_blank" rel="bookmark noopener">Binance, BinanceUS, CZ Resolve All Discovery Disputes With US SEC, Here’s What Next</a> 
<h2 id="cathie-wood-goes-massive-bullish-on-tesla">Cathie Wood Goes Massive Bullish on Tesla</h2> 
On April 1, ARK Innovation ETF (ARKK) purchased 62,100 Tesla shares and ARK Next Generation Internet ETF (ARKW) buys 22,064 TSLA shares. 
April 2, ARK Innovation ETF (ARKK) purchased 182,052 Tesla shares, ARKQ buys 10,202 TSLA, and ARK Next Generation Internet ETF (ARKW) buys 42,744 TSLA shares. 
On April 5, ARK Innovation ETF (ARKK) purchased 109,206 Tesla shares and ARK Next Generation Internet ETF (ARKW) buys 24,769 TSLA shares. 
<a href="https://coingape.com/crypto-stocks/TSLA/" target="_blank" rel="noopener">TSLA price</a>&nbsp;closed 3.63% lower at $164.90 on Friday. Elon Musk’s Tesla stock price has dropped 6.39% this week. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Cahie Wood about the Tesla Q1 P&amp;D Report and PT 
 Interviewer" You've been buying (Tesla)!" 
 Cathie "Yes, We were selling when it was around 400 and 350, when its been cut in half, down 60% is not the time to run to the hills, if you believe and we also believe Tesla is going to… <a href="https://t.co/CmkT0SjsuC">pic.twitter.com/CmkT0SjsuC</a> 
 — Alex (@alex_avoigt) <a href="https://twitter.com/alex_avoigt/status/1775617743795966358?ref_src=twsrc%5Etfw">April 3, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Also Read: <a title="BTC Price to $70K This Week After Bitcoin, Ethereum Options Expiry Today" href="https://coingape.com/18060-bitcoin-options-270440-ethereum-options-to-expire-today/" target="_blank" rel="bookmark noopener">BTC Price to Hit $70K This Week</a> 
The post <a href="https://coingape.com/cathie-wood-ark-invest-tesla-53-coinbase-robinhood-shares/">Cathie Wood’s Ark Sells $53M Coinbase, Robinhood Shares This Week, Bullish on Tesla</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Cathie Wood’s Ark Sells $53M Coinbase, Robinhood Shares This Week, Bullish on Tesla

Table of Contents

Coingape News Media

Other articles published on Apr 6, 2024

March Crypto Fundraising Hits $1.2B, But Q1 Still Registers 23% Dip

Arbitrum’s Rising Market Value Captures Investor Focus

Ripple Stablecoin, Not the End for XRP Says Top Crypto Experts

New ATH incoming: Bitcoin ‘most aggressive bull cycle’ is yet to start

Crypto Market Cap Decreases By Over $100 Billion as US Government Moves BTC to Coinbase, Algotech...

Solana: Here’s the full story behind its ‘2nd straight day’ of txn ‘failures’

Join our free newsletter for daily crypto updates!