Ark Invest Sells Coinbase and Grayscale in Bitcoin Boom

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Cathie Wood’s company, Ark Invest, has made changes to its investments due to Bitcoin’s big jump in value. Even though a court ruled in favor of Grayscale in the Grayscale-SEC lawsuit about Bitcoin ETFs, which helped boost Bitcoin’s price, Ark Invest still sold shares of Coinbase and the Grayscale Bitcoin Trust.

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Ark Invest Sells Coinbase and Grayscale, Buys Robinhood and Moderna Shares

Ark Invest, led by Cathie Wood, made some notable moves in their portfolio. They sold over 42,000 Coinbase shares, valued at $3.3 million, and more than 100,000 Grayscale Bitcoin Trust shares worth $2.5 million. Despite these sales, Ark Invest is optimistic about Bitcoin’s future, with hopes of it reaching $1.48 million by the end of the decade, especially if spot Bitcoin ETFs are approved.

Additionally, they acquired nearly 260,000 shares of Robinhood, reinforcing their position as the second-largest institutional holder of Robinhood stock. They also bought shares of Moderna while selling some NVIDIA shares. This update also touches on Ark Invest’s history with NVIDIA and makes comparisons to investment strategies of firms like Apple and Tesla.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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  • Asad

    Asad is a dynamic and talented cryptocurrency content author who brings a wealth of knowledge and enthusiasm to every article. With a deep understanding of blockchain technology and a passion for digital assets, Asad's writing is both informative and engaging.

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