Ark Invest Makes Second-Day Sales of Grayscale and Coinbase Stocks

• ARK Invest reduced exposure to cryptocurrency assets for two consecutive days.
• ARK’s Next Generation Internet ETF sold $1.8 million of Grayscale Bitcoin Trust (GBTC) shares and $1.7 million of Coinbase stock.
• On the previous day, ARK Invest sold $3.3 million in COIN shares and over 100,000 GBTC units.

Cathie Wood’s ARK Invest continued reducing exposure to cryptocurrency assets for a second consecutive day on Tuesday. According to disclosures, the firm’s ARK Next Generation Internet ETF sold about $1.8 million worth of Grayscale Bitcoin Trust (GBTC) shares and $1.7 million of Coinbase Global Inc. (COIN) stock.

This comes after ARK Invest reportedly sold $3.3 million in COIN shares and over 100,000 GBTC units on Monday, capitalizing on the recent crypto market rally. The active fund had loaded up on positions in both GBTC and Coinbase during the depths of the 2022 bear market.

ARK trimming crypto exposure after bullish run

ARK Invest’s sales follow a period of rising optimism and token prices across the cryptocurrency market. Bitcoin is up over 15% in the past week, again surpassing the key $34,000 level.

Some of this bullish sentiment has been driven…

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