Cathie Wood’s ARK Invest continues to make significant moves in the crypto market, purchasing $21 million worth of 3iQ Ether staking ETF while selling $14.6 million of Coinbase stock.
Points
- ARK Invest sold 69,069 Coinbase shares worth $14.7 million.
- ARK purchased 1.7 million shares of the 3iQ Ether staking ETF, worth around $21 million.
- Despite sales, ARK’s funds still hold significant Coinbase shares.
- ARK also offloaded shares from its own Bitcoin ETF and Robinhood holdings.
Cathie Wood’s investment firm ARK Invest has once again made significant trades in the crypto market, purchasing $21 million worth of the 3iQ Ether staking ETF （ETHQ.U） while offloading $14.6 million of Coinbase stock. This move marks a continued reshuffling of ARK’s crypto-related investments.
After resuming significant sales of Coinbase stock in July, ARK sold 69,069 shares on August 1, worth approximately $14.7 million. This sale is ARK’s largest since early April and late March when the firm sold around 60,000 Coinbase shares daily. Despite these sales, ARK’s funds still hold a significant amount of Coinbase shares, with the stock accounting for nearly 10% of the ARK Fintech Innovation ETF （ARKF）.
On the buying side, ARK made its first purchase of the Canada-based 3iQ Ether staking ETF. The firm bought 1.7 million shares of ETHQ.U on August 1, valued at around $21 million. Of these, one million shares were allocated to the ARK Next Generation Internet ETF （ARKW）, while the remaining 651,713 shares were purchased through the ARK Fintech Innovation ETF.
The 3iQ Ether staking ETF has seen significant growth,
surging around 40% year-to-date and closing at $12.3 on August 1. This growth highlights the increasing interest in Ether staking products and ARK’s strategic move to diversify its crypto investments.
In addition to the Ether staking ETF purchase, ARK has also offloaded some of its holdings in Robinhood and its own spot Bitcoin ETF. The firm sold 108,751 shares of the ARK 21Shares Bitcoin ETF （ARKB） from its ARKW fund on August 1, totaling around $6.9 million. ARK also sold 282,435 Robinhood shares for $5.7 million.
解説
- ARK Invest’s recent trades reflect its dynamic strategy in the volatile crypto market, balancing between selling Coinbase shares and investing in promising Ether staking products.
- The purchase of the 3iQ Ether staking ETF indicates ARK’s confidence in the long-term potential of Ether staking and its role in generating passive rewards.
- Despite the significant sales, ARK’s continued holdings in Coinbase suggest a balanced approach to managing its portfolio and mitigating risks.
- The firm’s diversification into various crypto assets, including Ether staking and Bitcoin ETFs, underscores the growing importance of different crypto investment vehicles.
- Investors can learn from ARK’s strategy by diversifying their portfolios and staying informed about market trends to make informed investment decisions.