Ark Invest has increased its shareholding of nearly 30 million US dollars in the past week
It is reported that the Ark Invest Fund of Cathie Wood increased its holdings of 119429 Coinbase shares again on Friday, about US $6.4 million. Among them, Ark Invest increased its holdings of 103129 Coinbase shares through Ark Innovation ETF and 16300 Coinbase shares through Ark Next Generation Internet.
Interpretation of this information:
The latest report regarding the Ark Invest Fund of Cathie Wood’s investment activity reveals that it has further increased its holdings of Coinbase shares. The fund added a total of 119,429 shares of Coinbase, which equates to about $6.4 million. This increasing investment in Coinbase is noteworthy, especially since it comes after the crypto platform’s recent direct listing on the Nasdaq stock exchange.
Notably, Ark Invest increased its Coinbase shares through two of its ETF funds- the Ark Innovation ETF and the Ark Next Generation Internet. Through Ark Innovation ETF, it added 103,129 Coinbase shares, while through the Ark Next Generation Internet, it invested in 16,300 Coinbase shares.
Overall, this latest investment by Ark Invest indicates that the company sees significant growth potential in Coinbase, especially given its strong growth in the cryptocurrency market in recent times. Since its Nasdaq listing, Coinbase has seen a surge in demand, with its share price rising significantly higher than its initial reference value. This dramatic rise in value is no doubt attracted Cathie Wood to continue investing in the platform.
Additionally, Cathie Wood has a well-known reputation for her bullish stance in cutting edge industries. Her investment moves are closely watched by Wall Street, and the latest Coinbase investment could have a ripple effect across the broader cryptocurrency market.
Summarily, Cathie Wood’s Ark Invest Fund has increased its holdings of Coinbase shares, purchasing a total of 119,429 shares of the cryptocurrency platform. The investment was made through two of its ETF funds- the Ark Innovation ETF and the Ark Next Generation Internet. This investment highlights the fund’s belief in the potential of Coinbase to grow further in the cryptocurrency industry, especially given its recent listing on the Nasdaq stock exchange.
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