Asset management firm Ark Invest founded by Cathie Wood has offloaded Coinbase (COIN)<\/strong> shares worth millions again amid a crypto market bloodbath on Wednesday. Meanwhile, Cathie Wood\u2019s Ark Invest funds have purchased Elon Musk\u2019s Tesla (TSLA)<\/strong> shares, increasing its holdings as the stock price fell over 4%.<\/p>\n On Jan 2, Cathie Wood\u2019s Ark Invest sold a total of 166,183<\/strong> <\/span>Coinbase shares\u00a0<\/strong>worth over $25.3 million, as per trades seen by CoinGape.<\/p>\n <\/p>\n ARK Innovation ETF (ARKK) sold 145,048 Coinbase shares and ARK Next Generation Internet ETF (ARKW) offloaded 21,135 COIN shares.<\/p>\n Coinbase (COIN<\/a>) price closed 2.96% lower at $152.24 on Wednesday, continuing to drop from a recent high of $187.39. The price is rising by 1.48% in the pre-market hours on Thursday.<\/p>\n On Jan 2, Cathie Wood\u2019s Ark Invest sold a total of\u00a03,360 Coinbase shares<\/a>\u00a0worth over $580K and\u00a023,606 Robinhood shares\u00a0worth nearly $300K.<\/p>\n <\/p>\n CoinGape reported last week that Cathie Wood seems to be bearish on Bitcoin<\/a> and crypto shares as the SEC is likely to approve spot Bitcoin ETFs as of January 10, considering it as a \u2018sell the news\u2019 event. Moreover, Ark Invest funds will look to continue to offload COIN shares worth millions this month as part of its active fund management strategy, extending its selloff run of the last year.<\/p>\n <\/p>\n Also Read: Over 200K Bitcoins Worth $9 Bln On Move Causes Panic, What\u2019s Happening?<\/a><\/strong><\/p>\n Ark Invest funds purchased a total of 105,201 Tesla (TSLA) shares <\/strong>worth nearly $25.3 million, which seems to be funded from Coinbase shares selloff.<\/p>\n ARK Innovation ETF (ARKK) sold 91,194 Tesla shares and ARK Next Generation Internet ETF (ARKW) offloaded 14,007 TSLA shares.<\/p>\n TSLA price<\/a> closed at $238.45 on Wednesday, down 4.01%. The price is trading at 0.85% higher in pre-market hours on Thursday.<\/p>\n Also Read: US SEC Argues Terra Ruling Relevant In Binance, Binance.US, CZ Lawsuit<\/a><\/strong><\/p>\nCathie Wood\u2019s Ark Invest Sells Coinbase, Buy Tesla<\/h2>\n
Cathie Wood Buys Tesla Shares<\/h2>\n
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