Cathie Wood\u2019s investment management firm Ark Invest sold Coinbase (COIN) and Grayscale Bitcoin Trust (GBTC) shares as the crypto market selloff caused $500 million in liquidations. Bitcoin bull Cathie Wood offloading crypto-related shares from Ark Invest funds caused speculation in the market, despite the current bullish sentiment in the crypto community.<\/p>\n
Cathie Wood\u2019s Ark Invest Sells Coinbase (COIN) Shares Again<\/h2>\n
On December 11, Cathie Wood\u2019s Ark Invest sold\u00a013,634 Coinbase (COIN) shares<\/strong> worth nearly $2 million, as per transactions seen by CoinGape.<\/p>\n <\/p>\n ARK Innovation ETF (ARKK) sold 10,933 Coinbase shares, ARK Next Generation Internet ETF (ARKW) offloaded 2,483 COIN shares, and ARK Fintech Innovation ETF (ARKF) sold 218 COIN stocks.<\/p>\n Ark Invest funds have been selling Coinbase shares as COIN stock price rallied more than 336% this year. There were concerns in the crypto community about massive selloffs, raising questions about whether Cathie Wood is still bullish on Bitcoin. However, a broader crypto market selloff on Monday cleared the rationale behind Ark Invest\u2019s recent actions.<\/p>\n Coinbase (COIN<\/a>) stock price fell 5.87% to $138.02 on Monday in response to the crypto market selloff. Traders remained bullish and kept on buying the dips as the price fell near support.<\/p>\n <\/p>\n On Dec 8, Cathie Wood\u2019s Ark Invest sold 335,860 Coinbase (COIN) shares<\/a>\u00a0worth $49 million.<\/p>\n <\/p>\n Also Read: Terra Luna Classic Validator Proposes Unique Burn Mechanism To Revive LUNC To $1<\/a><\/strong><\/p>\n Cathie Wood\u2019s Ark Invest funds further offloaded their holdings in Grayscale Bitcoin Trust (GBTC). On Dec 11, ARK Next Generation Internet ETF (ARKW) sold an additional 395,945 GBTC shares<\/strong> worth $13 million. This is the largest selloff of GBTC by Ark Invest as BTC price tumbled 8% to $40,200.<\/p>\n On Dec 8, ARK Next Generation Internet ETF (ARKW) sold an additional\u00a0102,672 GBTC shares worth $3.6 million as the price hit another high of $36.23.<\/p>\n Meanwhile, Ark Invest renews its focus on AI and technology. ARKW buys 10,212 Meta Platforms, 8,810 Microsoft, and 23,778 Taiwan Semiconductor shares.<\/p>\n Also Read: <\/strong>Dogecoin (DOGE) Price Under Strong Selling Pressure, Key Support Levels to Watch<\/a><\/p>\n <\/p>\n \u2713 Share:<\/p>\nGBTC Also On The Sell List, Buys Meta & Microsoft<\/h2>\n
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