ARK Invest's recent sale of ARKB shares and Coinbase stock aligns with profit-taking strategies amid significant Bitcoin market activity.
ARK Invest has sold $8.7 million worth of its Bitcoin spot ETF (ARKB) and $13.3 million in Coinbase shares following Bitcoin's rise above $123,000. This decision is viewed as a profit-taking strategy ahead of upcoming CPI data. Despite the sale, Bitcoin ETFs experienced a net inflow of $403 million, continuing a trend of nine consecutive days of inflows.