Cathie Wood’s ARK Invest has sold 225,742 shares of its own Bitcoin ETF worth 8.7 million from its Next Generation Internet fund.
Bitcoin News: Cathie Wood’s ARK Invest has sold 225,742 shares of its own Bitcoin ETF worth 8.7 million from its Next Generation Internet fund.
The firm simultaneously offloaded 13.3 million in Coinbase shares as COIN hit record highs above 400.
The sales came after Bitcoin briefly surged past 123,000 and Coinbase’s market cap exceeded 100 billion.
ARK’s ARKB fund experienced 6.2 million in outflows while other Bitcoin ETFs saw 403 million in combined inflows.
BlackRock’s IBIT led with 416.3 million in inflows, contributing to a nine-day streak totaling 4.4 billion.
Analysts suggest ARK may have been taking profits ahead of CPI data or shifting toward higher-return assets.
The move represents notable profit-taking from one of crypto’s most aggressive…
