Ark Invest Adjusts Crypto Holdings Amid Market Volatility
Ark Invest– Cathie Wood’s Ark Invest quietly sold $6.5 million worth of Coinbase shares and $5.8 million of Robinhood shares on Thursday, even as both stocks climbed thanks to Bitcoin’s latest rally. The ARK Innovation ETF (ARKK) also offloaded about $1.7 million in Block Inc. shares, marking a notable shift in Ark’s crypto-related holdings.
Coinbase and Robinhood Stocks Rally with Bitcoin
Despite Ark’s sell-off, Coinbase shares rose 4%, closing at $388.96, while Robinhood jumped 4.4% to $98.70. Meanwhile, Block Inc. saw a minor dip, closing down 0.36% at $68.76. The surge in these stocks coincides with Bitcoin hitting a fresh all-time high of $118,080, up 6.4% in 24 hours, and Ethereum’s impressive 8.5% rise to $3,011.
Strategic Moves: Coinbase Partners with AI Startup
Coinbase recently announced a new partnership with Perplexity AI, a cutting-edge artificial intelligence search engine, to launch a real-time crypto data service. This collaboration highlights the growing synergy between blockchain and AI industries.
Robinhood is making waves by engaging with European regulators to launch blockchain-based “stock tokens,” opening new avenues for crypto adoption and digital asset trading, according to Bloomberg.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
