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Cathie Wood’s Ark Invest Buys Additional $21.4M Worth of Coinbase Stock
Ark Invest recently purchased 420,949 more units of Coinbase stock (NASDAQ: COIN) worth approximately $21.4 million, according to reports. The investment firm, run by seasoned Bitcoin (BTC) investor Cathie Wood, capitalized on the dip to make another large stock purchase.
Ark Invest put around 330,000 shares into its flagship ARKK exchange-traded fund (ETF). ARKK invests in companies that target disruptive innovation.
Regarding the disbursement of purchased shares, reports further state that Ark Next Generation Internet ETF (ARKW) received 54,466 shares. Another ETF, the ARK Fintech Innovation ETF (ARKF), took custody of 36,022 Coinbase shares.
The latest investment by Ark in Coinbase follows a similar purchase made by the firm at the end of October. Two weeks ago, the Florida-based investment management firm acquired 10,880 COIN for ARK Fintech Innovation ETF. In addition to making its first purcha
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