United

Bitcoin ETF

Bitcoin

<a href="https://crypto.news/tag/ark-invest/">ARK Invest</a>, a key player in the issuance of a spot Bitcoin exchange-traded fund (ETF) in the United States, has executed its first major sale of cryptocurrency-related stocks this year.&nbsp; 
On Feb. 14, the firm divested itself of 214,068 shares in Coinbase (COIN) and 119,394 shares in Robinhood (HOOD) across its ETF portfolios. This move marked a significant shift in ARK’s investment strategy, given its previous accumulations of these assets. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Cathie Wood and Ark Invest's trade activity from today 2/14 <a href="https://t.co/HcGkLKtmAT" target="_blank">pic.twitter.com/HcGkLKtmAT</a>— Ark Invest Daily (@ArkkDaily) <a href="https://twitter.com/ArkkDaily/status/1757936418901602667?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 15, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
The sale was concentrated within the ARK Innovation ETF (ARKK), which alone offloaded 152,600 <a href="https://crypto.news/ark-invest-sells-another-20-6m-in-coinbase-shares/">Coinbase shares</a>. The ARK Fintech Innovation ETF (ARKF) and the ARK Next Generation Internet ETF (ARKW) also participated, selling 31,459 and 30,009 Coinbase shares, respectively.&nbsp; 
The combined sales generated approximately $34 million, calculated from Coinbase’s closing price of $160.4 on Feb. 14. This sale occurred as Coinbase’s stock price surged, approaching its <a href="https://crypto.news/coinbase-shares-surge-to-reach-18-month-high/">previous high of $173</a> set in November 2023, indicating a significant market movement. 
 You might also like: <a href="https://crypto.news/ark-investment-shifts-16m-from-proshares-to-own-bitcoin-etf/"> ARK Investment shifts $16m from ProShares to own Bitcoin ETF </a> 
ARKW’s divestiture of Robinhood shares, totaling about $1.5 million from its closing price on Feb. 14, was stated to align with Rule 12d3-1, which is aimed at limiting ETF investments in certain securities. This sale contrasts with ARK’s <a href="https://www.thestreet.com/investing/stocks/cathie-wood-ark-invest-robinhood-stocks" target="_blank" rel="noopener">recent acquisition</a> of Robinhood shares, highlighting a strategic adjustment in its portfolio management. The move echoes the firm’s previous sales in a bid to <a href="https://crypto.news/ark-sells-coinbase-robinhood-shares-amid-impressive-stock-growth/">rebalance its portfolio</a>.&nbsp;&nbsp; 
As of Feb. 15, ARKW’s portfolio prominently features Coinbase, Roku, ARK Bitcoin ETF, Block, Tesla, and Robinhood, with substantial allocations to these entities. Notably, Coinbase and Roku represent 9.5% and 7.7% of ARKW’s total allocations, respectively. 
Furthermore, the ARK 21Shares Bitcoin ETF (ARKB) has increased its Bitcoin holdings, purchasing an additional 1,960 BTC on Feb. 15. This acquisition raised ARKB’s total Bitcoin allocation to 24,925 BTC, valued at approximately $1.3 billion, cementing ARK’s ongoing commitment to cryptocurrency investments and its <a href="https://crypto.news/bitcoin-mentioned-as-financial-powerhouse-in-ark-invests-2024-market-forecast/">faith in Bitcoin</a>. 
ARK Invest’s decision to sell shares in Coinbase and Robinhood comes despite the positive performance of both stocks. Coinbase, in particular, has seen a <a href="https://www.marketwatch.com/investing/stock/coin" target="_blank" rel="noopener">19% increase</a> in value leading up to its fourth-quarter earnings report, with expectations for stronger earnings and revenue fueled by a surge in trading volume. Similarly, Robinhood, a platform that extends into crypto trading, has <a href="https://www.marketwatch.com/investing/stock/hood" target="_blank" rel="noopener">reported a 10% growth</a> in its crypto revenue for the quarter. 
 Read more: <a href="https://crypto.news/sec-likely-to-restrict-etf-approvals-to-bitcoin-and-ethereum-says-cathie-wood/"> SEC likely to restrict ETF approvals to Bitcoin and Ethereum, says Cathie Wood </a>

ARK Invest sells shares in Coinbase and Robinhood amidst positive market performance

crypto.news

在 2024年2月15日發表的其他文章

Bitcoin, Next Stop $55,400? Analysts Share Bullish Predictions

Minu Price Prediction: MINU Soars 59%, But Analysts Say This Presale With 100X Potential Might Be...

SatNode (SND) Sets Sights on $70-140 Million Market Cap Amidst Industry Undervaluation

Bitcoin Breaks $50,000 Barrier as Market Momentum Builds

Guide des meilleurs casinos crypto et Bitcoin en 2024

BSV Node Software – v1.1.0 Release

訂閱免費電子報，每天收取加密貨幣最新動態！