Ark Invest sells $4.4 million in Coinbase stock and $4.3 million in Robinhood stock.
Cathie Wood’s Ark Invest sold $4.4 million worth of Coinbase stock and nearly $4.3 million worth of Robinhood stock on Thursday, with both stocks falling at market close.
The company’s ARK Innovation ETF sold 26,301 shares of Coinbase Global Inc. and 341,592 shares of Robinhood Markets Inc. on Thursday, according to recent trading filings. ARK Next Generation Internet ETF also sold 4,980 shares of Coinbase stock and 23,838 shares of Robinhood stock on the same day.
Coinbase and Robinhood stocks closed lower on Thursday as investors weighed news of U.S. approval for a spot Bitcoin ETF that began trading on Thursday. Coinbase is cryptocurrency custodian For several of these ETFs, Robinhood Spot Bitcoin ETF offering begins For customers with retirement and brokerage accounts.
Coinbase shares closed down 6.7% at $141.16, while Robinhood closed down 3.5% at $11.71.
The price of Bitcoin surged above $48,000 before falling to around $45,800 on Thursday. The world’s largest cryptocurrency by market capitalization was trading at $46,095 at 11:15 a.m. Hong Kong time on Friday, down 0.48% over the past 24 hours, according to The Block. data.
first day of trading
According to Yahoo Finance, on the first day of trading for the spot Bitcoin ETF, total volume across 11 instruments reached approximately $4.53 billion. data Edited by The Block.
iShares Bitcoin Trust, BlackRock’s spot Bitcoin ETF, top performer Among new issuers, intraday trading volume reached approximately $1 billion.
Grayscale’s Spot Bitcoin ETF, which converted its flagship GBTC fund, recorded $2.28 billion in trading volume on Thursday. Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, speculated: post At X, most of Grayscale’s volume may be “all sold.”
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