Ark Invest Buys $8.7M in Coinbase Shares, Sells $8.6M of Its Bitcoin ETF Amid Crypto Sell-Off

Description

Ark Invest purchased 41,032 shares of Coinbase (COIN) worth approximately $8.7 million for its Next Generation Internet ETF (ARKW) on Tuesday, while simultaneously selling $8.6 million of its own spot Bitcoin ETF (ARKB) amid a broad cryptocurrency market downturn. This marks Ark’s first acquisition of Coinbase shares since October 8, 2024, when it bought $2.2 million worth of COIN ahead of former President Donald Trump’s pro-crypto election victory. Following that purchase, Coinbase stock double...