NewsletterCathie Wood’s Ark Invest Sells Coinbase, Nvidia Again; Buys Tesla Shares
Highlights
- Cathie Wood's Ark Invest continue its Coinbase (COIN) shares selloff spree
- Cathie Wood also sold Nvidia (NVDA) shares worth millions again, defying market sentiment
- ARK funds bought Elon Musk's Tesla (TSLA) shares
Cathie Wood’s asset management firm Ark Invest has again offloaded its holdings of Coinbase (COIN) shares, continuing a selling spree as COIN price hit a new 52-week high. Ark Invest has also offloaded Nvidia and Robinhood shares amid a significant jump in prices.
Cathie Wood’s Ark Invest Selling Coinbase Daily
On March 5, Cathie Wood’s Ark Invest sold an additional 110,896 shares of Coinbase stock COIN worth $24 million, as per trades seen by CoinGape. Ark Invest funds last week offloaded $45 million worth of COIN shares as the price hit a 2-year high.
ARK Innovation ETF (ARKK) sold 86,375 Coinbase shares, Ark Fintech Innovation ETF (ARKF) sold 14,244 COIN stocks, and ARK Next Generation Internet ETF (ARKW) offloaded 10,277 Coinbase shares.
Moreover, Ark funds also sold Coinbase shares on Monday, March 4 continuing their selling spree. ARK Innovation ETF (ARKK) sold 72,871 Coinbase shares, Ark Fintech Innovation ETF (ARKF) sold 50,863 COIN stocks, and ARK Next Generation Internet ETF (ARKW) offloaded 11,015 Coinbase shares.
Coinbase (COIN) price fell 5.40% on Tuesday, closing at $216.77 after hitting a high of $239.98. Coinbase shares are trading at 5.64% higher at $229 in the pre-market hours on Wednesday. COIN price has rallied nearly 80% in a month, causing Ark funds to book profits as they accumulated enough shares during bear market.
Also Read: Sam Bankman-Fried Shouldn’t Get Leniency — Court Filing
Ark Buying Tesla amid Nvidia and Robinhood Selloff
Cathie Wood also sold Nvidia shares again on Tuesday. ARKQ sold 1,985 NVDA shares, ARKG offloaded 535 shares and ARKF sold 3,315 NVDA shares. Nvidia share price continues to lead the market with a 26% jump in a month.
Proceeds were used to further increase holdings in Elon Musk’s Tesla (TSLA) as prices plunged almost 10% amid disputes with OpenAI. ARKK purchased 61,073 shares, ARKQ bought 5.684 TSLA shares, and ARKW purchased 13,199 shares. TSLA price fell to $180.74, with a 0.95% jump in pre-market hours.
Robinhood prices are a major run after earnings with a 48% rally in a month. ARKW sold 20,380 shares and ARKF sold 30,220 HOOD shares on March 4.
Also Read: Crypto Market Selloff — Over $1 Billion In BTC, ETH, XRP, SHIB Liquidated, Here’s Why
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- BONK Gets Major Boost as BitCapital Prepares to Launch Its First ETP on Swiss Exchange
- Bitcoin Price Will Rally to $200K After Crashing to $58K, Peter Brandt Predicts
- Michael Saylor’s Strategy Faces Removal From Nasdaq 100 Amid Crypto Market Crash
- Crypto Market Crash: $1B in Bitcoin, ETH, SOL & Top Altcoins Liquidated Ahead of Options Expiry
- Bitwise XRP ETF Sees Massive First Day of Launch With Nearly $22M in Trading Activity
- Dogecoin Price Forecast: Will DOGE Hold Above $0.15 or Fall Lower?
- Pi Coin Price Eyes a 105% Surge as Bullish Patterns Align With Bullish Fundamentals
- Will XRP Price Rally to $3 After Bitwise Launches First XRP ETF on NYSE?
- Ethereum Price Hits Historical Liquidity Reset — Is a Bounce Coming?
- Solana Price Prediction: Key Indicators That Could Propel SOL Toward $200
- Zcash Price Outlook: What’s Next for ZEC After Surging 12%?
