ARK Invest, managed by famous investor Cathie Wood, has sold $5 million worth of shares of the cryptocurrency exchange
Led by renowned investor Cathie Wood, ARK Invest has made strategic adjustments to its portfolio. She sold $5 million worth of Coinbase (COIN) stock, for a total of 38,668 shares.
Ark Fintech Innovation ETF (ARKF) sold 38,668 shares of COIN. The move follows the sale of 43,956 COIN shares earlier Monday. In contrast to Coinbase's decline in assets, ARK Invest announced that it has made strategic acquisitions in the financial sector.
The company bought $2 million worth of shares from Robinhood (HOOD) and $1.5 million worth of shares from online banking platform SoFi Technologies (SOFI).
ARK's purchase of Robinhood stock amounted to $2 million and was its seventh purchase of HOOD stock this month.
The move coincides with ARK's latest push to offer share trading in the UK and demonstrates its efforts to expand internationally.
Despite the market challenges, Robinhood shares rose 3.24% to $8.92 on Wednesday.#Bitcoin. #Ethererum #USDT #BNBBinance $BTC $SOL $BNB
