As Bitcoin reaches new highs and investors are excited, ARK Invest, led by 'female stock god' Cathie Wood, decisively took profits, reducing its holdings in 3 cryptocurrency concept stocks, cashing out over 14 million dollars.
According to the latest trading records, ARK's main fund 'ARK Innovation ETF (ARKK)' sold 16,627 shares of Coinbase on Thursday, valued at approximately 6.5 million dollars; simultaneously, it reduced its holdings of 58,504 shares of Robinhood stock, amounting to about 5.8 million dollars; additionally, it sold a total of 24,780 shares of Block Inc., calculated at approximately 1.7 million dollars based on the closing price that day.
According to data from Yahoo Finance, Coinbase's stock price rose by 4% on Thursday, closing at 388.96 dollars; Robinhood increased by 4.4% to 98.7 dollars; Block Inc.'s stock price remained relatively stable, down 0.36%, closing at 68.76 dollars.
It is noteworthy that Coinbase announced on Thursday a collaboration with AI search engine startup Perplexity AI to launch an instant cryptocurrency data service, becoming the latest case of cooperation between the emerging fields of cryptocurrency and artificial intelligence.
On the other hand, Robinhood is also in talks with European regulators to plan the launch of 'stock tokens' locally; however, Robinhood still faces regulatory challenges in the United States, as the Florida Attorney General's office launched an investigation into Robinhood Crypto on Thursday, accusing the platform of misleading consumers with its marketing claim of 'the lowest trading costs.'
"Does the female stock god sell at a high? ARK drastically cuts holdings in 3 cryptocurrency concept stocks, cashing out 14 million dollars" this article was first published on (BlockBeat).
