NVDA - Amid A Crypto Rally Cathie Wood's Ark Invest Sells Coinbase Grayscale Bitcoin Trust Buys Robinhood Shares | Benzinga
On Monday, Cathie Wood-led Ark Invest made a notable move by selling shares of Coinbase Global Inc (NASDAQ:COIN) amid a surge in Bitcoin (CRYPTO: BTC) prices. At the time of writing, the apex cryptocurrency was seen trading at $34,878.65, it had spiked 15.2% over 24 hours.
The COIN Trade: Ark Invest sold 42,613 shares of Coinbase Global through ARK Next Generation Internet ETF (NYSE:ARKW) and Ark Fintech Innovation ETF (NYSE:ARKF). The transaction was valued at $3.3 million, based on Coinbase’s closing price of $77.21 on Monday.
More than a month ago, Coinbase’s CEO Brian Armstrong confirmed the implementation of Bitcoin’s Lightning Network for faster and cheaper transactions. Cathie Wood applauded this move, highlighting the significance of Lightning as Bitcoin’s payment layer and its potential to offer Coinbase’s vast user base quicker and more affordable Bitcoin transactions. Armstrong’s announcement was a response to ...