Cathie Wood’s Ark Invest bags nearly $16M Coinbase stocks in February

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 53 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 51%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

.ARKInvest's latest purchases show a bullish outlook on the cryptocurrency market, with the investment management firm stacking nearly $16 million in Coinbase stock over just two days.

On Feb. 10 and Feb. 13, Ark made its first COIN purchases since mid-January, adding significant exposure to the United States’ largest crypto exchange.

Last Friday, Ark bought 139,105 COIN shares for the ARK Innovation exchange-traded fund , according to an investor notification seen by Cointelegraph. On the same day, the asset manager also purchased 23,220 COIN shares for allocation by another fund, ARK Next Generation Internet ETF . The asset manager spent a total of $9.2 million on these Coinbase stock investments.

On Feb. 13, Ark’s ARKK and ARKW funds continued to accumulate the Coinbase stock, adding 102,281 COIN shares and 16,414 COIN shares, respectively. With COIN closing at $56.4 on Monday, the purchases cost Ark about $6.7 million. Just in two days, Ark spent nearly $16 million on the Coinbase stock, or $3.5 million more than it totally stacked in COIN shares in January. As of Feb. 14, Ark's monthly COIN purchases amount to 280,000 shares, while in January Ark bought more than 330,000 COIN shares.Related:

The latest purchases come amid Ark Invest CEO and chief investment officer Wood continuing to express a bullish outlook on the cryptocurrency market.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

ARKInvest The latest purchases come amid Ark Invest CEO and chief investment officer Wood continuing to express a bullish outlook on the cryptocurrency market. Ark’s chief executive also believes crypto assets will see a huge turnaround in 2023 due to inflation and a potential Fed pivot.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Industry-wide tech layoffs don't indicate sector is in 'disarray': Cathie WoodARK Invest CEO and CIO Cathie Wood discusses where she sees growth in the stock market, and the future of technology and artificial intelligence sectors. 😂😂😂
Source: FoxNews - 🏆 9. / 87 Read more »