Ark Invest sells more Coinbase shares, eyes Meta platforms, Robinhood

As the banal terms of Coinbase (COIN) reaches a 52-week high, Ark Invest, the concern absorption steadfast led by Bitcoin (BTC) bull Cathie Wood, has precocious divested much of its Coinbase shares.

Following Ark Invest's important acquisition of Coinbase shares during the carnivore market, the concern steadfast has precocious sold disconnected a information of its Coinbase holdings for the 2nd clip this week. In the meantime, Cathie Wood, the salient Bitcoin advocate, is actively investing successful Meta Platforms (META) and Robinhood Markets (HOOD) shares.

Trade accusation observed by Cointelegraph reveals that connected July 14, Cathie Wood's Ark Invest funds divested a full of 478,356 Coinbase (COIN) shares valued astatine $53 million, coinciding with the stock's yearly precocious of $114.43.

Screenshot of  ARK Invest trading notification. Source: ARK Trading desk.

In the transactions, Cathie Wood's flagship money ARK Innovation ETF (ARKK) divested 263,247 COIN shares, ARK Next Generation Internet ETF (ARKW) sold 93,227 COIN shares, and ARK Fintech Innovation ETF (ARKF) offloaded 35,666 COIN shares.

In June, Cathie Wood initiated the acquisition of Meta Platforms shares aft the institution announced the motorboat of "Threads," a societal media app akin to Twitter. ARK Innovation ETF (ARKK) acquired 69,793 META shares, portion ARK Fintech Innovation ETF (ARKF) purchased 111,843 shares of Robinhood. Additionally, ARK Next Generation Internet ETF (ARKW) accrued its holdings with 12,559 META shares and 169,116 Robinhood shares.

As per CoinMarketCap, the closing terms of COIN banal connected Friday stood astatine $105.31, experiencing a 1.58% diminution arsenic investors secured their profits. During the week, COIN terms surged by 33%, reaching a 24-hour precocious of $114.43, and displaying an awesome year-to-date summation of 213%. In summation to the wide upswing successful crypto-related stocks, Coinbase witnessed a notable emergence pursuing the summary judgement successful the US SEC v. Ripple lawsuit.

Related: Allowing Coinbase to spell nationalist was not a ‘blessing’ from regulators — SEC

Cathie Wood’s ARK Innovation ETF (ARKK) sold 135,152 Coinbase (COIN) shares worthy $12 cardinal connected July 11 and ARK Fintech Innovation ETF (ARKF) sold 160,887 Coinbase (COIN) shares successful March.

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