ROKU - Cathie Wood's Ark Invest Sells $1.9M in Grayscale Bitcoin Fund Sheds Coinbase Holdings And Shops For $1.8M Worth Of Robinhood Stock | Benzinga
On Tuesday, Cathie Wood-led Ark Invest made significant trades, with a notable purchase of shares in Robinhood Markets Inc (NASDAQ:HOOD) while offloading positions in Coinbase Global Inc (NASDAQ:COIN) and Grayscale Bitcoin Trust (OTC:GBTC). This move aligns with a similar trading pattern observed on Monday.
The HOOD Trade: Amid a broader crypto rally, Ark Invest acquired 197,285 shares of Robinhood through ARK Next Generation Internet ETF (NYSE:ARKW). The transaction was valued at $1.8 million based on Robinhood’s closing price of $9.32 on Tuesday. This decision comes in the wake of Ark Invest’s move on Monday, where they sold shares of Coinbase during a surge in Bitcoin (CRYPTO: BTC) prices while picking up shares in Robinhood.
The COIN Trade: On Tuesday, Ark Invest sold Coinbase shares worth $1.73 million, based on the stock’s closing price of $82.07 through ARKW.
Ark Invest’s decision to sell shares of Coinbase comes after ...