Posted 11/29/2023, 5:04:00 AM
Ark Trades Coinbase and Robinhood While Trimming Bitcoin Exposure
- Ark Invest sold $5.2M of Coinbase shares as COIN stock hit an 18-month high, up over 74% in the past month
- Ark purchased $2M of Robinhood shares as it plans to expand into the EU and UK after disappointing Q3 results
- Ark sold $2.8M of Grayscale Bitcoin Trust shares as its discount to NAV narrowed to 8.78%, the lowest in 2 years
- Coinbase stock remains 62% below its all-time high from November 2021 during the crypto bull market
- Robinhood stock is down 84% from its peak in August 2021 but up nearly 7% year-to-date