Cathie Wood’s fund is continuing to sell crypto-related stocks as the market hits a high not seen since early 2022.
Cathie Wood’s investment fund ARK Invest offloaded around $1.8 million of the Grayscale Bitcoin Trust and $1.7 million shares of Coinbase for the second straight day.
According to a disclosure, ARK Next Generation Internet ETF moved to sell 21,062 shares of COIN and 72,509 units of GBTC as the market closed on Tuesday.Sentiment suggests that bitcoin’s rise is driven by the anticipation of a potential spot ETF approval. ARK Invest is capitalizing on the bullish sentiment by selling GBTC shares and adjusting its portfolio with Coinbase and Robinhood stocks.
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