Cathie Wood's investment firm on Tuesday sold 225,742 shares of the ARK 21Shares Bitcoin ETF (ARKB) worth $8.70 million from its Next Generation Internet Fund (ARKW). The firm also sold 34,207 shares of Coinbase Global Inc.
Nicolai Sondergaard, analyst at Nansen, said of the underlying motivation for the sale: "They may want to take advantage of recent market momentum while reducing risk exposure ahead of the CPI release."
Mr. Sondergaard added: "It may also reflect a strategy of focusing on riskier, higher-return assets, or perhaps a preference for simple assets with strong returns relative to their underlying fundamentals."
ARK Invest sells $8.70 million worth of Bitcoin ETF shares for profit
2025-07-16 23:47:59
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