Ark Invest has invested nearly $20 million to buy Coinbase shares since January

According to reports, transaction data shows that Ark Invest has purchased nearly US $20 million of Coinbase shares since January, which means that Cathie Wood, who has long been bullish on Bitcoin, will continue to increase his holdings of Coinbase shares in the six weeks in 2023. It is reported that the vast majority of Coinbase shares purchased by Ark Invest this year have entered the company’s flagship fund ARKK. Up to now, the weight of Coinbase shares in ARKK has reached 4.62%. Due to the strong performance of the encryption market in January, the share price of Coinbase reached an intra-year peak of US $81.6 in early February. However, at the close of last Friday, it fell by nearly 22% to US $57.09. （decrypt）

Interpretation of this information:

According to recent reports, Ark Invest has been purchasing almost US$20 million worth of Coinbase shares since the beginning of this year, which indicates that Cathie Wood, a known Bitcoin bull, will increase her stakes in the company. The majority of the purchased Coinbase shares have been added to Ark’s main fund, ARKK, which now has a weightage of 4.62%. Despite the crypto market’s strong performance in January, Coinbase’s share prices reached an intra-year peak of US$81.6 in February, but has since fallen almost 22% to US$57.09 at the end of last week.