Cathie Wood's Ark Invest Sells Coinbase Shares As Bitcoin Drops Below Key $62K Level

On Monday, Cathie Wood-led Ark Invest made some significant trades, with Coinbase Global Inc. COIN taking the spotlight. This comes amidst a turbulent market scenario, particularly for cryptocurrencies.

The COIN Trade

Ark Invest’s most prominent trade on this day was with Coinbase, a leading cryptocurrency exchange platform. This trade comes at a time when the cryptocurrency market is experiencing significant volatility, with Bitcoin’s BTC/USD price falling below the $62,000 mark. This drop in Bitcoin’s price has had a direct impact on Coinbase’s shares, which also traded lower on Monday.

Coinbase shares stood at $212.31 at the end of Monday’s regular session. The firm sold 3,341 Coinbase shares through ARK Next Generation Internet ETF ARKW. The transaction amounted to $709,327.

Other Key Trades:

See Also: ‘Dogecoin Killer’ Shiba Inu Falters — Here Is What These Key Indicators Reveal About Its Short-Term Prosp

• Teladoc Health Inc TDOC: Sold 54,256 shares from the ARKG ETF and 61,606 shares from the ARKK ETF.
• Absci Corp ABSI: Bought 43,936 shares for the ARKG ETF.
• Verve Therapeutics Inc VERV: Sold 10,570 shares from the ARKG ETF and 50,971 shares from the ARKK ETF.
• Roku Inc ROKU: Bought 32,989 shares for the ARKK ETF.

Read Next: Bitcoin, Ethereum, Dogecoin Fall On Investor Worries: Analyst Warns Of King Crypto’s Dip Below $60K

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal