Ark Investment Management announced on Monday that it had sold 218,986 Coinbase (corner) shares, valued at around $ 90.6 million. The company also revealed an investment of around $ 175 million in Bitmin Immersion (BMNR) shares of the Ethereum (ETH) cash company.
This last reduction marks the continuation of a series of parts of parts this month, highlighting significant portfolio adjustments.
Ark Invest Constime of Coinbase shares
Cathie Wood’s investment company announced the reduction on July 21 via an article on X (formerly Twitter). Sales were distributed between the funds negotiated on Ark (ETF).
The ARK Innovation ETF (ARKK) discharged 174,746 Coinbase actions, the ARK Next Generation Internet ETF (ARKW) sold 27,663 actions, and the ARK Fintech Innovation ETF (ARKF) sold 16,577 actions.
This month, the company has sold parts of parts each week. On July 1 and 2, Arkw sold 9,116 and 3,067 pieces, respectively. During the second week of July, Ark discharged a total of 22,223 Coinbase shares, with sales made on July 10 and 11.
Likewise, last week, the investment company reduced its exposure to coins by 43,762 additional shares. Despite the sale, Ark Invest remains one of the 10 best parts of parts, according to data from Yahoo Finance.
The last reduction occurs shortly after Coin reached a summit of all time (ATH) on July 18. The milestone has also allowed holders of the Coinbase Public Offer (IPO) to return to profitability.
Meanwhile, in the middle of these sales, Coin took a modest fall. According to Google Finance Data, the shares closed $ 413.63 yesterday, down 1.47%. However, the price experienced a low increase of 0.3% of pre-commercial negotiations.
In addition, future predictions highlight the growth potential. Cantor Fitzgerald, a large financial service company, recently increased its price target for $ 500, compared to $ 292.
“The company increases the estimates of BPA 2026 to $ 10.76 (from $ 8.36) due to the higher transaction, stablecoin and rewards for blockchain rewards. They now apply a 46.5x cyclic negotiation platform (compared to 35x) reflecting Coinbase Coinbase of a cyclical negotiation platform for Crimy Infrastructure infrastructure, led by the link between the Sablie initiatives. “Superapp” for payments, social and trading could still stimulate growth.
In parallel, Ark Invest has also reduced its positions in other actions. It sold 109,824 shares of Robinhood (Hood) worth $ 11.46 million and 90,061 Block Inc. (XYZ) with a value of around 7 million dollars. These movements suggest a strategic reallocation, although the company has not disclosed specific motivations.
Ark, led by Cathie Wood, buys 4.4 million Bitmine shares
At the same time, Ark Invest has made a new substantial investment, acquiring 4.4 million Bitmin Immersion Technologies actions worth around $ 175 million. Purchases were spread over Arkk (2,937,432 shares), ARKW (927,898 shares) and ARKF (555,704 shares),
Bitmine launched an Ethereum treasury strategy a few weeks ago and appointed the founder of Fundstrat, Tom Lee, the chairman of the board of directors. In addition, Beincrypto said Peter Thiel Linked Founders Fund also acquired a 9% stake in the office.
“Peter Thiel ~ The man who co -founded Paypal and bet early on Facebook, Palantir and Bitcoin has just made another move. He participated 9.1% in Bitmine, a cash vehicle attached to Eth Abd Tom Lee… He saw Bitcoin before Wall Street flashes. Now he’s going to heavy on ETH.
This acquisition aligns with the accent put by Ark on innovative blockchain technologies and the institutional adoption of cryptocurrencies. The company also diversified its assets with smaller purchases, including Advanced Micro Devices Inc. (AMD), Doordash Inc. (Dash), Deere & Co. (), etc., indicating a wide approach to the growth sectors.
Non-liability clause
In membership of the Trust project guidelines, Beincrypto has embarked on transparent impartial reports. This press article aims to provide precise and timely information. However, readers are invited to check the facts independently and consult a professional before making decisions according to this content. Please note that our terms and conditions, our privacy policy and our non-responsibility clauses have been updated.
