news 
ARK Invest Sells $3.9M in Coinbase Shares Following Bitcoin Price Drop
The cryptocurrency market has recently experienced a correction, with Bitcoin plummeting from its record high to below $100,000. This drastic change has led ARK Invest, a prominent investment firm, to reorganize its portfolio by selling a substantial amount of Coinbase shares.
In accordance with its portfolio rebalancing strategy, ARK Invest sold 13,780 shares of Coinbase stock (NASDAQ: COIN) worth approximately $3.9 million on Wednesday. This move is in line with the company’s regular portfolio adjustments and does not indicate a change in their long-term perspective on the digital asset sector.
Despite this correction, Bitcoin continues to be traded at $97,430, as per current market trends.
Source: blockonomi.com
