๐จ ๐ฐ Ark Invest Buys $13.3 Million in Coinbase Stock Amid Market Decline ๐จ
During Mondayโs market dip, Cathie Woodโs Ark Invest made significant moves by purchasing $13.3 million worth of Coinbase shares. Through its ETFs, Ark added 84,514 shares of Coinbase Global Inc.
โค Breakdown of Ark Investโs Purchases:
ARK Next Generation Internet ETF (ARKW) bought 64,806 shares, valued at around $10.2 million.
ARK Fintech Innovation ETF (ARKF) added 19,708 shares, valued at about $3.1 million.
Arkโs latest purchases follow a similar move last Friday, where they bought $13.4 million in Coinbase stock.
โค ARKโs Coinbase Holdings:
5.92% of the ARKW portfolio is invested in Coinbase, making it the fundโs fourth-largest holding.
7.65% of the ARKF portfolio is in Coinbase, making it the second-largest holding for the fund.
At the same time, Ark sold 159,496 shares of the ARK 21Shares Bitcoin ETF (ARKB), valued at approximately $12.4 million.
What do you think?
Is Ark Invest betting big on Coinbase's future, or is it capitalizing on short-term market conditions? Let us know in the comments!