Cathie Wood's Ark Invest Sells $28M in Robinhood Shares Ahead of Crypto API Launch and Bitcoin Dip
Benzinga1 min read1 views
Cathie Wood-led Ark Invest sold off $28 million worth of Robinhood shares as the company launches a cryptocurrency trading API and Bitcoin faces headwinds.
Ark Invest sold 857,676 shares from the ARK Innovation ETF (ARKK), 113,102 shares from the Ark Fintech Innovation ETF (ARKF), and 207,276 shares from the ARK Next Generation Internet ETF (ARKW).
The move aligns with Ark Invest's strategy to reduce exposure to cryptocurrency-related stocks amidst volatile market conditions.
Despite Robinhood's API launch, Bitcoin struggled on Thursday, falling to $68,353.39, a 1.1% decline.
Ark Invest also made other key trades, including purchasing Natera Inc (NTRA), Intellia Therapeutics Inc (NTLA), and UiPath Inc (PATH).
- #Cryptocurrency
- #Robinhood
- #Ark Invest
- #Bitcoin
- #Cathie Wood
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