{"id":222885,"date":"2024-01-03T15:52:48","date_gmt":"2024-01-03T10:22:48","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-bull-cathie-woods-ark-invest-extends-coinbase-and-robinhood-selling-spree-crypto-news\/"},"modified":"2024-01-03T15:52:52","modified_gmt":"2024-01-03T10:22:52","slug":"bitcoin-bull-cathie-woods-ark-invest-extends-coinbase-and-robinhood-selling-spree-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-bull-cathie-woods-ark-invest-extends-coinbase-and-robinhood-selling-spree-crypto-news\/","title":{"rendered":"Bitcoin Bull Cathie Wood’s Ark Invest Extends Coinbase And Robinhood Selling Spree – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Bitcoin bull Cathie Wood\u2019s asset management firm Ark Invest extends Coinbase<\/strong> (COIN) and Robinhood Markets<\/strong> (HOOD) selling spree as crypto shares take a hit despite a rally across the crypto market. Bitcoin surpassed $45.5K on Tuesday for the first time in last 2 years as investors consider a spot Bitcoin ETF approval by the US SEC.<\/p>\n

Ark Invest Sells Coinbase and Robinhood Shares<\/h2>\n

On Jan 2, Cathie Wood\u2019s Ark Invest sold a total of 3,360 Coinbase shares <\/strong>worth over $580K and 23,606 Robinhood shares <\/strong>worth nearly $300K, as per trades seen by CoinGape.<\/p>\n

<\/p>\n

ARK Innovation ETF (ARKK) sold 2,944 Coinbase shares, ARK Next Generation Internet ETF (ARKW) offloaded 329 COIN shares, and ARK Fintech Innovation ETF (ARKF) sold 87 COIN stocks.<\/p>\n

Ark Invest funds look to continue to offload COIN shares<\/a> worth millions this month as part of its active fund management strategy, extending its selloff run of the last year.<\/p>\n

Coinbase (COIN<\/a>) price fell 9.80% on Tuesday, closing at $156.88. The price is moving up by 1.35% in the pre-market hours on Wednesday.<\/p>\n

<\/p>\n

In addition, ARK Next Generation Internet ETF (ARKW) sold 23,606 Robinhood Markets (HOOD) shares. Ark Invest offloaded 121,100 HOOD shares<\/a> last time on December 19 after HOOD shares closed 10.4% higher at $13.17.<\/p>\n

HOOD price<\/a> also closed 2.90% lower at $12.37 on Tuesday and appears to open further lower on Wednesday as it trades almost 1% lower in premarket hours today.<\/p>\n

<\/p>\n

Also Read: Binance Announces New Solana (SOL), BNB, NFP, SEI & Other Crypto Margin Pairs<\/a><\/strong><\/p>\n

Ark Invest 21Shares Spot Bitcoin ETF Approval<\/h2>\n

Ark Invest sold <\/a>2.25 million Grayscale Bitcoin Trust (GBTC) shares<\/strong> worth $81 million last week. ARKW parked funds in ARK 21Shares Active Bitcoin Futures Strategy ETF (ARKA<\/strong>) and ProShares Bitcoin Strategy ETF (BITO<\/strong>) in preparation for its ARKB spot Bitcoin ETF approval.<\/p>\n

The spot Bitcoin ETF issuers expect to hear soon from the U.S. SEC on potential approval, with the approval window opening between Jan 5-10, 2024.<\/p>\n

Notably, 11 issuers including Ark 21Shares<\/strong> have updated<\/a> their spot Bitcoin ETF with APs, fees, and other changes and await the SEC\u2019s decision.<\/p>\n

Also Read: Crypto In Crosshairs As EU Regulators To Probe Banks-NBFIs Links<\/a><\/strong><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"