Cathie Wood-led Ark Invest sold nearly $31 million worth of Coinbase Global Inc (NASDAQ:COIN) shares as Bitcoin (CRYPTO: BTC) flirted with a new all-time high, nearing the $69,000 mark on Monday.

On Monday, Ark Invest sold 134,749 Coinbase shares through ARK Innovation ETF (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW), and Ark Fintech Innovation ETF (NYSE:ARKF). The transaction was valued at $30.88 million. Coinbase shares shot up 11.4% to $229.15 in regular trading for the day and gained another 3.8% in the after-hours trading.

The upswing in the share prices was attributed to soaring Bitcoin prices, according to a prior report. Coinbase faced a significant recent outage amidst heightened traffic as Bitcoin hit the $64,000 mark, with users reporting incorrect balances. Despite preparations, CEO Brian Armstrong noted that the traffic exceeded the company’s expectations.

This decision follows Robinhood’s Q4 earnings, which surpassed expectations, signaling a robust start to 2024. Analysts have lauded Robinhood’s performance, emphasizing its solid end to 2023 and optimistic outlook, as discussed in Benzinga’s analysis.

Furthermore, Ark Invest’s activity on Monday included purchasing shares of META Platforms Inc (NASDAQ:META), indicating a bullish stance on the social media conglomerate. This acquisition aligns with the recent fluctuations in META’s stock value, as investors and analysts closely monitor the company’s strategic moves in the evolving digital landscape.

• SOFI Technologies Inc (NASDAQ:SOFI) saw a significant increase in shares bought, highlighting Ark’s confidence in the fintech sector.
• Roblox Corp (NYSE:RBLX) and Toast Inc (NYSE:TOST) purchases reflect Ark’s investment in technology and software platforms.
• The sale of Twilio Inc (NYSE:TWLO) and StoneCo Ltd (NASDAQ:STNE) shares suggests a strategic portfolio adjustment in response to market conditions.