Investment firm ARK Invest, led by Cathie Wood, has once again spruced up its crypto-related holdings by selling $12.4 million worth of its own spot Bitcoin ETF (ARKB) while buying $13.3 million worth of Coinbase (COIN) stock, according to the firm’s latest trading disclosures.
ARK Invest Raises $13.3M in Coinbase Shares, Unloads $12.4M in Bitcoin ETF Amid Market Drop
The move comes at a time when global financial markets are facing increased volatility, with Bitcoin (BTC) and U.S. stocks falling amid rising economic uncertainty and increasing bets on Federal Reserve rate cuts.
ARK’s flagship ARK Innovation ETF (ARKK) was behind the bulk of the Coinbase buy, purchasing over 150,000 shares of COIN during Monday’s trading session. At the same time, ARK sold around 270,000 shares of its spot Bitcoin ETF (ARKB), taking advantage of liquidity amid the ongoing market downturn.
Coinbase shares have fallen sharply in recent days, tracking Bitcoin’s slide to near $74,000 and broader weakness in crypto-related stocks.
But ARK’s acquisition shows that the firm continues to believe in Coinbase as a long-term beneficiary of crypto adoption and market infrastructure growth.
ARK’s recent trades reflect a strategic rotation within its crypto exposure. While the firm remains bullish on Bitcoin for the long term, its decision to reduce ARKB holdings while doubling down on Coinbase signals a tactical shift in response to market dynamics.
*This is not investment advice.
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