Cathie Wood's Ark Invest Dumps $709K Worth of Coinbase Shares Amid Bitcoin Price Slump

On Monday, Cathie Wood-led Ark Invest made some significant trades, with Coinbase Global Inc. (NASDAQ:COIN) taking the spotlight.

Cathie Wood’s Ark Invest was seen making some significant trades on Monday. Here’s a quick look at some of the key trades.

What Happened: Coinbase Global Inc. (NASDAQ:COIN) stood out in Ark Invest’s trades on Monday, a day that saw the cryptocurrency exchange platform’s shares trading lower. This was as cryptocurrencies had a day in the red, with Bitcoin (CRYPTO: BTC) trading below the $62,000 mark.

Coinbase shares were trading at $212.31 at the close of Monday’s regular session. The firm sold 3,341 Coinbase shares through ARK Next Generation Internet ETF (NYSE:ARKW). This transaction was valued at $709,327.

Later in the day, Ark Invest also made some trades involving Grayscale Bitcoin Trust (OTC:GBTC) and ProShares UltraShort Bloomberg Natural Gas (NYSE:KOLD).

The ETF sold 10,000 Grayscale Bitcoin Trust shares through ARK Innovation ETF (NYSE:ARKK). This transaction was valued at $6,100,140.

The ETF also sold 100,000 ProShares UltraShort Bloomberg Natural Gas shares through ARK Next Generation Internet ETF. This transaction was valued at $4,000,000.

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