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Post: ARK Invest Sells Coinbase and Robinhood Shares from ETFs: A Sign of Rebalancing or Profit-taking?

ARK Invest Sells Coinbase and Robinhood Shares from ETFs: A Sign of Rebalancing or Profit-taking?

Key Points:

  • ARK Invest, an issuer of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the US, has sold major cryptocurrency-related stocks, including Coinbase and Robinhood shares.
  • The firm sold 214,068 Coinbase shares and 119,394 Robinhood shares from its ETFs on February 14.
  • ARK Invest sold 152,600 Coinbase shares from the ARK Innovation ETF (ARKK), along with additional sales from the ARK Fintech Innovation ETF (ARKF) and the ARK Next Generation Internet ETF (ARKW).
  • The sale of these stocks, which totaled $34 million, came as Coinbase’s stock price reached new highs.

ARK Invest Sells Coinbase and Robinhood Shares from its ETFs

ARK Invest, an issuer of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the US, has made its first sale of major cryptocurrency-related stocks this year. On February 14, the firm sold 214,068 Coinbase shares and 119,394 Robinhood shares from its ETFs, according to a trade notification. The ARK Innovation ETF (ARKK) alone sold 152,600 Coinbase shares, while the ARK Fintech Innovation ETF (ARKF) and the ARK Next Generation Internet ETF (ARKW) also sold a significant number of shares. The sale of these stocks generated $34 million in total, based on Coinbase’s closing price at the time.

Hot Take:

ARK Invest’s decision to sell Coinbase and Robinhood shares from its ETFs suggests that the firm may be reallocating its holdings or taking profits after the recent surge in these stocks. This move could be driven by the need to rebalance its ETF portfolios or manage risk. It is worth noting that ARK Invest remains an active player in the cryptocurrency space with its spot Bitcoin ETF, indicating its continued belief in the potential of cryptocurrencies.

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