Ark Invest, under the leadership of Cathie Wood, divested a substantial chunk of their Ethereum futures ETFs on August 9, which may have resulted in a decrease in investor confidence.
The corporation sold 400 units of ProShares Ethereum Strategy ETF (EETH) and Ark Active Ethereum Futures Strategy ETF (ARKZ), resulting in a trade of $21,112 for EETH and a sell of $12,056 for ARKZ.
Ark Invest’s strategic decision indicates a shift in investor opinion, potentially driven by waning confidence in Ethereum ETPs and the cryptocurrency’s short-term prospects.
Nevertheless, Cathie Wood’s company has exhibited a more optimistic stance towards bitcoin stocks. Ark Invest acquired 145,420 shares of Robinhood Markets Inc. (HOOD) and 13,833 shares of Coinbase Global Inc. (COIN) on August 7.
On August 9, a net outflow of $15.8 million in spot Ethereum ETF flows indicated conflicting signals in the broader ETH market. Additionally, a notable surplus of $104.8 million was recorded during the week.
