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Ark Invest Embraces Crypto: Bets on Coinbase and Robinhood Over Tesla

June 24 (Cointime) - Ark Invest has decreased its investment in Tesla while increasing its investment in crypto stocks, particularly Coinbase and Robinhood.

Despite the recent devaluation of crypto exchanges like Coinbase, their share prices have rebounded in the past week. Ark Invest sold nearly $16 million USD worth of Tesla stock through its private equity funds, reflecting a cooling sentiment towards the tech stock. However, the firm remains heavily invested in Tesla. In addition to purchasing Coinbase and Robinhood shares, Ark Invest also holds significant stakes in several American crypto firms and the Grayscale Bitcoin Trust.

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