ARK buys $21M of 3iQ Ether staking ETF, dumps $14.6M of Coinbase stock
Cathie Wood’s ARK has resumed active trading of crypto-related stocks like Coinbase, 3iQ Ether staking ETF, Robinhood and its own spot Bitcoin ETF.
Cryptocurrency-related trades are again gathering steam at Cathie Wood’s investment firm ARK Invest as it returned to trading tens of millions of dollars in crypto-related stocks and exchange-traded funds (ETF) in one day.
After resuming significant sales of Coinbase stock in July, ARK increased it’s sales selling in August, dumping 69,069 Coinbase shares on Aug. 1, according to trading data seen by Cointelegraph. Based on the stock’s closing price, the amount is worth $14.7 million, according to data from TradingView.
The transaction is ARK’s biggest Coinbase sale since early April and late March when the firm dumped around 60,000 Coinbase shares daily.
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Author: Helen Partz
