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Cryptocurrency News Articles
Cathie Wood's Ark Invest Dumps $709K Worth of Coinbase Shares Amid Bitcoin Price Slump
Jun 25, 2024 at 11:53 am
On Monday, Cathie Wood-led Ark Invest made some significant trades, with Coinbase Global Inc. (NASDAQ:COIN) taking the spotlight.
Cathie Wood’s Ark Invest was seen making some significant trades on Monday. Here’s a quick look at some of the key trades.
What Happened: Coinbase Global Inc. (NASDAQ:COIN) stood out in Ark Invest’s trades on Monday, a day that saw the cryptocurrency exchange platform’s shares trading lower. This was as cryptocurrencies had a day in the red, with Bitcoin (CRYPTO: BTC) trading below the $62,000 mark.
Coinbase shares were trading at $212.31 at the close of Monday’s regular session. The firm sold 3,341 Coinbase shares through ARK Next Generation Internet ETF (NYSE:ARKW). This transaction was valued at $709,327.
Later in the day, Ark Invest also made some trades involving Grayscale Bitcoin Trust (OTC:GBTC) and ProShares UltraShort Bloomberg Natural Gas (NYSE:KOLD).
The ETF sold 10,000 Grayscale Bitcoin Trust shares through ARK Innovation ETF (NYSE:ARKK). This transaction was valued at $6,100,140.
The ETF also sold 100,000 ProShares UltraShort Bloomberg Natural Gas shares through ARK Next Generation Internet ETF. This transaction was valued at $4,000,000.
See Also: ‘Dogecoin Killer’ Shiba Inu Falters — Here Is What These Key Indicators Reveal About Its Short-Term Prosp
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