Cathie Wood’s Ark Invest Divests Coinbase Shares
– Ark Invest, led by Bitcoin bull Cathie Wood, has sold a portion of its Coinbase shares for the second time this week.
– On July 14, Ark Invest divested a total of 478,356 Coinbase shares valued at $53 million.
– Cathie Wood’s flagship fund ARK Innovation ETF sold 263,247 shares, ARK Next Generation Internet ETF sold 93,227 shares, and ARK Fintech Innovation ETF sold 35,666 shares.
– Cathie Wood is actively investing in Meta Platforms and Robinhood shares.
Coinbase Stock Reaches 52-Week High
– Coinbase’s stock price reached a 52-week high of $114.43.
– CoinMarketCap reported a closing price of $105.31, experiencing a 1.58% decline.
– Coinbase saw a significant rise following the summary judgment in the US SEC v. Ripple lawsuit.
Cathie Wood’s Investments in Meta Platforms and Robinhood
– In June, Cathie Wood initiated the purchase of Meta Platforms shares after the company announced the launch of “Threads,” a social media app similar to Twitter.
– ARK Innovation ETF acquired 69,793 Meta Platforms shares, while ARK Fintech Innovation ETF purchased 111,843 shares of Robinhood.
– ARK Next Generation Internet ETF increased its holdings with 12,559 Meta Platforms shares and 169,116 Robinhood shares.
Hot Take: Cathie Wood Continues to Navigate the Crypto Market
Cathie Wood, the prominent Bitcoin advocate, is actively adjusting her investment portfolio in the crypto market. While divesting some of Ark Invest’s Coinbase shares, she is also investing in other crypto-related stocks like Meta Platforms and Robinhood. This move showcases her ability to adapt and navigate the ever-changing landscape of the crypto market. As Coinbase’s stock reaches new highs, it will be interesting to see how Cathie Wood’s investments in the sector unfold in the future.