In a strategic move that reflects market dynamics, *Ark Invest liquidated Coinbase and GBTC shares with a total value of approximately $50 million, including 237,572 Coinbase shares ($33.3 million). A transaction that represents one of the most significant daily divestments in Ark Invest this year.
Coinbase shares have surged 10% in the past week and 67% in the past month, the highest level since April 2022 but still below 60% of its all-time high recorded in November 2021.
As for GBTC, Ark Invest liquidated 168,127 shares worth approximately $5.9 million which follows previous sales of GBTC shares totaling more than $12 million.
The latter have recorded a surge of 30% in the last month, partly reflecting the increase in the price of Bitcoin.
Conclusion
Ark Invest's investment decisions are in line with evolving market dynamics.
Reducing exposure to Coinbase and GBTC reflects a meticulous approach to risk management and capital allocation.
Ark Invest's purchase of Robinhood shares further diversifies its portfolio and demonstrates its ability to adapt to the ever-changing cryptocurrency landscape.
*Ark Invest is an American investment company founded in 2014 and focuses on long-term equity investments in innovative sectors, such as technology. health, energy and more, with approximately $6.71 billion in assets under management (July 2023).
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