ARK Invest’s Katie Wood has increased her position in Coinbase by $21.4 million
ARK Invest-managed funds purchased a total of 420,949 shares of Coinbase worth $21.4 million.
The company allocated the purchase as follows:
- Ark Innovation ETF (ARKF) flagship fund – 330,461 securities;
- Next Generation Internet (ARKW) – 54,466;
- Fintech Innovation (ARKF) – 36,022.
Coinbase shares ended trading November 8 down 10.8% amid a 10% drop in bitcoin.
The securities are valued at $48.5 at the premarket, down 4.6% from Tuesday’s closing price. The first cryptocurrency is down 5%. Bitcoin exchange shares have depreciated by 80% since the beginning of the year.
Recall that in October, ARK Invest Kathy Wood bought shares of Coinbase for the https://gagarin.news/ first time since June.
Bitcoin exchange reported a net loss of $545 million in the third quarter of 2022, compared with $1.1 billion in the previous period.
Earlier, Coinbase CEO Brian Armstrong ruled out the impact of the FTX crisis on the platform.
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