Bitcoin bull Cathie Wood’s investment management firm Ark Invest sold additional Coinbase and Tesla shares on Tuesday, marking the third consecutive day of selloff for COIN and TSLA as price inches toward 52-week highs. Ark Invest taking profits and reallocating capital to other crypto-related shares such as Robinhood Markets and Meta.<\/p>\n
Cathie Wood recently reiterated that Bitcoin (BTC) price could hit $1.5 million by 2030 as Judge Torres’ ruling in the Ripple vs SEC lawsuit<\/a> and flurry of Bitcoin ETFs<\/a> files.<\/p>\n <\/p>\n On July 18, Cathie Wood’s Ark Invest funds sold a total of 52,224 Coinbase (COIN) shares worth $5.6 million, according to transactions seen by CoinGape. It follows as Coinbase stock price soared 85% in a month to hit a 52-week high. COIN stock price<\/a> closed 0.91% lower at $104.59 on Tuesday, but has jumped 1.63% to $106.30 in pre-market hours on July 19.<\/p>\n Cathie Wood’s flagship fund ARK Innovation ETF (ARKK) sold 26,951 COIN shares, ARK Next Generation Internet ETF (ARKW) sold 8,708 COIN shares, and ARK Fintech Innovation ETF (ARKF) offloaded 16,565 COIN shares.<\/p>\n Cathie Wood’s Ark Invest funds also sold a total of 248,838 Coinbase (COIN) shares<\/a> worth $26 million on July 17, 478,356 Coinbase (COIN) shares<\/a> worth $53 million on July 14, and ARK Innovation ETF (ARKK) sold 135,152 Coinbase (COIN) shares<\/a> worth $12 million on July 11.<\/p>\n <\/p>\n In addition, the ARK Innovation ETF (ARKK) offloaded 24,189 Tesla shares and the ARK Next Generation Internet ETF (ARKW) sold 4,470 TSLA shares. On July 17, ARK Innovation ETF (ARKK) offloaded 38,329 Tesla shares and ARK Next Generation Internet ETF (ARKW) sold 6,855 TSLA shares.<\/p>\n tsla stock price<\/a> closed 1% up at $293.34 on Tuesday, after rising nearly 6% in the past 7 days and 171% year-to-date.<\/p>\n <\/p>\n Also Read: Pro-XRP Lawyer Explains Significance Of Adapted Howey Test \u201cTorres Doctrine\u201d<\/a><\/strong><\/p>\n Meanwhile, Cathie Wood’s Ark Invest funds continue buying spree for Meta Platforms (META<\/a>) and Robinhood Markets (HOOD) shares, reallocating capital from Coinbase and Tesla shares to other crypto-related stocks.<\/p>\n On July 18, ARK Fintech Innovation ETF (ARKF) purchased 271 Robinhood shares and ARK Next Generation Internet ETF (ARKW) adds 428 Robinhood shares. On Monday, ARK Fintech Innovation ETF (ARKF) purchased 25,641 Robinhood shares and ARK Next Generation Internet ETF (ARKW) adds 37,630 Robinhood shares.<\/p>\nCathie Wood’s Ark Invest Offloads Additional Coinbase and Tesla Shares<\/h2>\n
Reallocating Capital to Robinhood Shares<\/h2>\n
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