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CDS Crypto News Ark Invest, Sells an Additional 4 Million Dollars in Coinbase Shares

Crypto News

Ark Invest, Sells an Additional 4 Million Dollars in Coinbase Shares

On Thursday, Ark Invest executed another significant sell-off, parting ways with 26,743 shares of Coinbase. Interestingly, despite this divestment, the Coinbase stock displayed resilience by closing the day with a 2.21% increase, reaching $155.6.

Ecem EFE05/01/20241 Mins read402

Crypto News- Cathie Wood’s Ark Invest seems to be gradually distancing itself from Coinbase Global Inc., with the most recent sale involving the offloading of 26,743 shares valued at $4.1 million. This move comes just a day after a substantial sale of $25.3 million in Coinbase shares. The selling trend persisted on Thursday, as evidenced by Ark Invest’s daily trade disclosure for its ARK Innovation ETF. Interestingly, despite the divestment in Coinbase, the ETF strategically acquired 132,955 shares of Recursion Pharmaceuticals on the same day, with a total value of approximately $1.48 million.

Ark Invest, Sells an Additional 4 Million Dollars in Coinbase Shares

Over the past few weeks, Ark Invest’s ETFs have collectively shed over $200 million worth of Coinbase shares. Nevertheless, Coinbase stock demonstrated resilience by closing Thursday with a 2.21% increase at $155.6. It’s worth noting that the stock has witnessed a remarkable surge of over 360% in the past year.

In additional Coinbase-related developments, the cryptocurrency exchange has followed in the footsteps of its industry counterparts by imposing a requirement for UK users to complete a risk-acknowledgment form. This move aligns with guidelines from the country’s financial regulator, showcasing Coinbase’s commitment to regulatory compliance in an ever-evolving financial landscape.

Ark Invest, Sells An Additional 4 Million Dollars In Coinbase Shares 142847

Sources:theblock

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Ecem EFE

Since 2022, Ecem has been creating digital content, combining her passion for technology with writing. Continuing her education in the Mathematics department, Ecem focuses on producing in-depth content on areas such as blockchain, artificial intelligence, and cryptocurrency. She aims to simplify these topics and present them to a wide audience, sharing valuable insights into the crypto industry through her writing. With her innovative content, she strives to raise awareness in the digital world.

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