On Monday, Cathie Wood-driven Ark Investing carried out significant transactions, in particular by selling shares of Coinbase Global Inc CURRENCY AND Block Inc m2despite the fluctuations of the cryptocurrency market.
COIN trading
Ark Invest sold 30,458 shares of Coinbase via its flagship ARK Innovation ETF ARKK. The settlement amounted to $7.3 million. On the day, Coinbase shares closed down 1.13% at $239.62. The main cryptocurrencies such as Bitcoin Bitcoin/USD AND Ethereum ETH/USD traded lower as investors theorized that markets had overheated following the approval of spot ETFs, according to an earlier report.
Ark Invest also decided to sell a significant number of Coinbase shares last week, despite Bitcoin recently hitting new all-time highs. It was reported earlier that a surge in investments in US-based exchange-traded funds (ETFs) linked to Bitcoin, the digital currency, peaked at $73,709. Bitcoin’s rise coincided with a record net inflow of $1.05 billion into spot Bitcoin ETFs on March 12.
The SQ trade
Ark Invest also reduced its stake in Block Inc., formerly known as Square. The shares were sold at a closing price of $80.86 each, for a total deal value of $8.95 million. The operation was carried out via ARKK e ARK Next Generation Internet ETF ARKWwho saw a decrease of 0.0972% and 0.1008% respectively in their holdings.
See Also: Bitcoin, Ethereum, Dogecoin Rise on Weekend Selling Pressure: Analyst Says King Crypto to Reach $100,000-$150,000 After April Halving
Previously, Cathie Wood criticized Hindenburg for his “wildly misleading” report which led to a sharp drop in the Jack Dorsey-led company’s share prices last year.
Other key operations:
- Ark Invest bought shares of Modern Inc MRNA through its ARKG and ARKK ETFs.
- Shares of Twilio Inc TWLO were sold via the ARKK and ARKW ETFs.
- Ark Invest increased its stake Unity Software Inc U among the ARKK, ARKQ and ARKW ETFs.
Read next: “Dogecoin Killer” Shiba Inu Burn Rate Challenges Market Action with 933% Rise, Daily Active Addresses Peak 8%
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