Cathie Wood’s Investment Management Company Ark Invest Snapped $ 8.7 million of Coinbase (Coin) -Parts on Tuesday, when the Cryptocurrency Route Sot Crypto Equities slide.
Ark added 41,032 Coin shares to its next generation Internet ETF (Arkw) when Crypto Exchange’s stock dropped nearly 6.5% on the day to $ 212.49.
Meanwhile, Ark 98,060 sold shares of its own Spot Bitcoin ETF (ARKB) worth about $ 8.6 million.
The route on the Cryptocurrency Market Tuesday, so Bitcoin (BTC) falls to a three-month low under $ 87,000, resulted in record outflows from Spot Bitcoin ETFs in the US
The funds recorded net outflow of almost $ 940 million, the largest single-day sales since they began trading in January 2024, according to data traced by Sosovalue.
However, Crypto Market Slide provided an opportunity to make its largest coin purchase in dollar -terms since August 5, when it added 93.8 million 93,800 shares for $ 17.8 million.
