Cryptocurrency

COIN

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ark-invest-sells-shares-amid-market-adjustments/" data-wpel-link="internal">ARK Invest Sells Shares Amid Market Adjustments</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/bakkt-borsasinda-heyecanlandiran-gelisme" data-wpel-link="internal">Cryptocurrency</a></strong> enthusiasts have been closely monitoring the value of COIN stock since <a href="https://en.coin-turk.com/ftx-customers-to-receive-over-90-of-their-assets-following-agreement/" data-wpel-link="internal">Coinbase</a> was listed on Nasdaq. The demand for the cryptocurrency exchange’s stock has been influential in driving up its price. This price increase has particularly led to large companies, who had invested earlier, to sell off their shares. The latest move came from Ark Invest, which has previously made headlines with its sales.</p> 
<h2 style="text-align: justify" id="ark-invest-sells-off-shares">ARK Invest Sells Off Shares</h2> 
<p style="text-align: justify">Cathie Wood’s Ark Invest, known as a <a href="https://en.coin-turk.com/bitcoin-price-surges-altcoins-follow-the-trend/" data-wpel-link="internal">Bitcoin</a> bull, has decided to rebalance its portfolio according to recent transaction filings. During this rebalancing process, it appears that Ark Invest has reduced its holdings in the financial sector, including Coinbase and Robinhood, as well as chip manufacturers like TSMC and Nvidia.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-320172 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/ark-invest-coin-turk-com-.jpg" alt="" width="1200" height="630"></p> 
<p style="text-align: justify">Firstly, when examining the adjustments made concerning chip manufacturers, it is observed that Ark Autonomous Technology and Robotics ETF has sold its shares in TSMC and Nvidia. This move took place as stock prices in the chip sector continued to rise. Ark still holds approximately 221,848 TSMC shares.</p> 
<p style="text-align: justify">Especially considering the increase of Nvidia’s stock by 59% and TSMC’s by 25% since the beginning of the year, the fund’s rebalancing strategy seems to have been triggered. Although Cathie Wood had previously invested in chip manufacturers within the artificial intelligence sector, she has recently shown a tendency to focus on software companies. Therefore, the removal of TSMC and Nvidia from the portfolio may not be surprising.</p> 
<h2 style="text-align: justify" id="coin-stock-also-being-sold">COIN Stock Also Being Sold</h2> 
<p style="text-align: justify">As for Coinbase, it is reported that Ark Invest sold a total of 96,435 Coinbase shares in three ETFs last week. These sales occurred despite a 30% increase in Coinbase’s price. Considering that Coinbase shares had risen by 160% last year but have recently fallen more than 50% from their all-time high, this step seems like a strategic decision.</p> 
<p style="text-align: justify">Overall, these sales indicate that Ark Invest is adjusting its portfolio to reflect current market conditions and long-term investment strategies. Ark Invest, under the leadership of Cathie Wood, is known for its carefully selected and analyzed investments, and these moves appear to be made with the same diligence.</p> 
<p>While Ark Invest continues to divest from COIN stock, the cryptocurrency world also experienced excitement today as Bitcoin surpassed $57,000. The flagship cryptocurrency <strong><a href="https://coin-turk.com/abd-enflasyon-verileri-ve-kripto-piyasasi-bitcoin-icin-olasi-senaryolar-neler" data-wpel-link="internal">BTC</a></strong> is trading at $56,655 at the time of writing.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ark-invest-sells-shares-amid-market-adjustments/" data-wpel-link="internal">ARK Invest Sells Shares Amid Market Adjustments</a></h5>

ARK Invest Sells Shares Amid Market Adjustments

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