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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