Key Highlights:
- Ark Invest sold $6.5M in Coinbase and $5.8M in Robinhood stock
- Bitcoin hit $118K and Ether passed $3,000
- Coinbase and Robinhood stocks both rose over 4%
- Ark also sold $1.7M of Block Inc. shares
Profit-Taking Amid Crypto Rally
Cathie Wood’s Ark Invest has reduced its exposure to crypto-linked stocks, selling large portions of Coinbase and Robinhood shares as Bitcoin reached a new all-time high above $118,000. ARKK sold 16,627 Coinbase shares and 58,504 Robinhood shares, along with 24,780 shares of Block Inc. This profit-taking came as markets rallied and sentiment turned bullish.Partnerships and Probes
Coinbase recently announced a partnership with AI startup Perplexity for real-time data services. Meanwhile, Robinhood is dealing with regulatory pressure after Florida’s AG launched an investigation into its crypto pricing practices. Despite this, both stocks saw strong gains on Thursday, buoyed by Bitcoin and Ether's sharp price increases.
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