Ark Invest sells Coinbase shares, investing in a point star-news.press/wp

Ark Investment Management announced on Monday that it had sold 218,986 shares from Coinbase (Coin), at a value of approximately $ 90.6 million. The company also revealed an investment of approximately $ 175 million in the shares of ETHEREUM (ETHENE) BitMine Mamersion (BMNR).

This last reduction represents the continuation of a series of currency sales this month, highlighting large wallet adjustments.

Ark Invest Shares Coinbase

The Cathy Wood Investment Company announced the reduction on July 21 via A. mail On x (previously Twitter). Sales were distributed through the traded boxes in ARK (ETFS).

Ark Innovation ETF (Arkk) has canceled 174,746 Coinbase, and sold Ark Generation Etf (Arkw) 27,663 shares, and a decrease in Ark Fintech Innovation ETF (Arkf) 16,577 shares.

This month, the company sold currency shares every week. on July 1 and 2, arkw It sold 9,116 and 3,067 currencies, respectively. In the second week of July, ARK imposed a total of 22223 Coinbase shares, with sales on July 10 And 11.

Likewise, the past week The investment company reduced its exposure to the currency last 43,762 shares. Despite the sales, Ark Invest is still one of the 10 best currency carriers, according to Yahoo Finance Data.

The last reduction comes shortly after Coin reached the highest level (ATH) on July 18. The teacher also allowed Coinbase’s first general offers to return to profitability.

Meanwhile, in these sales, Coin took a modest fall. According to Google Finance data, shares were closed at $ 413.63 yesterday, a decrease of 1.47 %. However, the price saw a small increase of 0.3 % in pre -market trading.

Moreover, future predictions highlight the possibility of growth. Cantor Fitzgerd, a major financial services company, raised its target price to a coin to $ 500, an increase of $ 292.

“The company raises the estimates of 2026 EPS to $ 10.76 (from $ 8.36) due to the high transactions, Stablecoin, and BLOCKCHAIN. For payments, social and trade can enhance growth. to publish.

In parallel, Ark Invest has reduced its positions in other stocks. 109,824 shares of Robinhood (Hood) sold $ 11.46 million and 90,061 shares from Block Inc. (XYZ) worth about $ 7 million. These moves indicate a strategic redress, although the company has not revealed specific motives.

Ark buys Cathay Wood 4.4 million shares

Meanwhile, ARK Invest has achieved a major new investment, with 4.4 million shares of BitMine Gemersion technologies estimated at about $ 175 million. Purchases were deployed via ARKK (2,937,432 shares), ARKW (927,898 shares), and ARKF (555,704 shares),

BitMine launched the Ethereum Treasury strategy a few weeks ago and appointed Fundstrat Tom Lee as Chairman of the Board of Directors. Moreover, Beincrypto stated that the Peter Thiel Funds Fund also also got a 9 % stake in the company.

“Peter Thil ~ the man who participated in the establishment of PayPal and Beat early on Facebook, Palantir and Bitcoin is another step. He got a 9.1 % stake in BitMine, a cabinet associated with ETH ABD TOM Lee … he saw Bitcoin before Wall Street. to publish.

This acquisition is in line with the ARK focus on innovative Blockchain technologies and institutional adoption of encrypted currencies. The company also diversified its shares with smaller purchases, including the shares of Micro Devices Inc.