Bitcoin Bull Cathie Wood’s Ark Invest Sells Coinbase (COIN), Buys Robinhood Shares
Bitcoin Bull Cathie Wood’s investment management firm Ark Invest offloads additional holdings of Coinbase shares, marking the second selloff of COIN stock this week. Meanwhile, ARK Invest funds continue to buy Robinhood Markets (HOOD) shares amid Robinhood’s first global expansion to the United Kingdom.
Cathie Wood’s Ark Invest Selling Coinbase Shares
On November 29, Cathie Wood’s Ark Invest fund Ark Fintech Innovation ETF (ARKF) sold 38,668 Coinbase shares worth almost $5 million, according to transactions seen by CoinGape.
It follows as Coinbase stock price soared 65% in a month to hit a 52-week high. COIN stock price closed 0.35% lower at $127.82 on Wednesday.
Recently, on November 27, Ark Fintech Innovation ETF (ARKF) sold 43,956 Coinbase shares worth $5 million. Cathie Wood’s Ark Invest funds have sold COIN stocks worth billions, with a total of 52,224 shares sold last time on July 18.
Cathie Wood’s Ark Invest fund ARK Next Generation Internet ETF (ARKW) sold 94,624 GBTC shares worth almost $3 million on November 24.
Also Read: SEC Chair Gary Gensler Hinted At Spot Bitcoin ETF Approval? Speculates Bloomberg Analyst
Robinhood Stock In Demand
Robinhood Markets continue to grab the attention of Ark Invest. On November 24, Ark Invest fund ARK Next Generation Internet ETF (ARKW) purchased 93,297 HOOD shares.
Cathie Wood’s Ark Fintech Innovation ETF (ARKF) made its largest buy of 221,759 HOOD shares on November 29. The move coincided with Robinhood rolling out commission-free stock trading in the UK, bringing its Silicon Valley innovation to British investors.
HOOD price closed at $8.92 on Wednesday. The stock trades at 3% higher in pre-market hours.
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