The sale occurred as Coinbase shares hit a high of $146.30 before closing at $141.09 on Monday. This move follows Ark’s late November sale of over 118,000 Coinbase shares through ARKW and ARKF, signaling a nuanced approach to the firm’s crypto asset investments during the market’s recovery phase.
Simultaneously, Ark Invest demonstrated its confidence in the fintech sector by purchasing 14,702 shares of Robinhood (NASDAQ:HOOD). The trading platform’s stock price reached $9.55 and was poised for further gains after announcing a 4.40% increase in after-hours trading. This uptick is partly attributed to news of Robinhood’s expansion into the UK market and the positive sentiment surrounding potential Bitcoin ETFs.
Cathie Wood also commented on Bitcoin’s relevance in cyber warfare, reflecting the heightened interest from entities such as the Defense Department. Her remarks underscore robust market confidence in the varied applications of cryptocurrencies.
Aside from its crypto-related transactions, Ark has been bolstering its fintech holdings by acquiring shares of companies like Robinhood and expanding into digital payments with investments in Toast Inc. Additionally, Ark’s significant purchase of PagerDuty (NYSE:PD) Inc shares indicates its belief in the growth potential of IT management solutions.
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Source: Cryptocurrency - investing.com
