3 months ago
Cathie Wood's concern absorption institution ARK Invest snapped up $8.7 cardinal of Coinbase (COIN) shares connected Tuesday arsenic the rout successful the cryptocurrency saw crypto equities slide.
ARK added 41,032 COIN shares to its Next Generation Internet ETF (ARKW), arsenic the crypto exchange's banal fell astir 6.5% connected the time to $212.49.
Meanwhile, ARK sold 98,060 shares of its ain spot bitcoin ETF (ARKB), worthy astir $8.6 million.
The rout successful the cryptocurrency marketplace connected Tuesday, saw bitcoin (BTC) autumn to a three-month debased beneath $87,000, brought astir grounds outflows from spot bitcoin ETFs successful the U.S.
The funds registered nett outflows of astir $940 million, the largest single-day merchantability since they began trading successful January 2024, according to information tracked by SoSoValue.
The crypto marketplace descent nevertheless presented an accidental to marque its largest COIN acquisition successful dollar presumption since Aug. 5, erstwhile it added 93.8 cardinal 93,800 shares for $17.8 million.
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