Cathie Wood Dumps $11 Milllion Worth Of Tesla Stock While Doubling Down On These Notable Crypto Plays

On Thursday, Cathie Wood-led Ark Invest made important trades involving Tesla Inc. (NASDAQ:TSLA), Coinbase Global Inc. (NASDAQ:COIN), and Brera Holdings PLC (NASDAQ:SLMT).

Ark Invest executed a notable transaction by selling 23,110 shares of Tesla done its ARK Innovation ETF (BATS:ARKK). The sale, valued astatine astir $11.2 million, comes amid a backdrop of Tesla’s banal pulling backmost aft reaching all-time highs earlier successful the week.

Tesla’s shares person been experiencing volatility, with investors intimately watching the company’s autonomous driving advancements.

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Despite the caller dip, Tesla’s banal closed astatine $483.37 connected Thursday, marking a 3.45% increase. This question reflects ongoing marketplace interest, adjacent arsenic Ark adjusts its holdings successful the electrical conveyance giant.

Ark Invest besides made a strategical acquisition of Coinbase shares crossed its ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Next Generation Internet ETF (BATS:ARKW) and ARKK. The combined acquisition of 17,386 shares is valued astatine astir $4.15 million. This determination aligns with Coinbase’s caller announcement of launching accepted banal trading, arsenic elaborate successful a Benzinga article.

Coinbase announced it would motorboat commission-free U.S. banal trading with 24-hour entree 5 days a week, expanding beyond its crypto-only roots. The institution positioned the determination arsenic a measurement toward becoming a azygous level for some integer assets and accepted equities, portion laying groundwork for aboriginal tokenized stocks. Management said regulatory constraints required starting with accepted banal trading earlier pursuing blockchain-based equities. The enlargement aimed to diversify gross and trim dependence connected volatile crypto trading cycles.

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Ark Invest importantly accrued its involvement in Brera Holdings by purchasing a full of 575,644 shares done its ARKW, ARKF and ARKK ETFs. This acquisition, valued astatine astir $1.4 million, follows Brera Holdings’ strategical initiatives, including its Solana (CRYPTO: SOL) treasury strategy, which antecedently led to a notable banal rally. On Thursday, Brera Holdings’ banal saw a humble emergence of 0.84%, closing astatine $2.39.