Coinspeaker
Cathie Wood’s Ark Invest Buys Coinbase Shares as Market Offers Discount

Cathie Wood’s asset management firm Ark Invest disclosed that it purchased a fresh batch of Coinbase shares on April 7.

Several crypto analysts have described the move as strategic, given that the acquisition occurred during a global market downturn that unsettled investors worldwide.

Ark Invest Buys $13.3 Million Worth of Coinbase Shares

ARK Invest purchased 84,514 Coinbase shares worth approximately $13.3 million. The shares were bought across two of Ark’s exchange-traded funds.

In a separate report, Ark Invest recently acquired 41,032 shares of Coinbase shares, for its Next Generation Internet ETF (ARKW). The purchase, made in February, was valued at $8.7 million,

However, the numbers have since been updated according to the company’s latest trade filing. Based on Monday’s closing price, the ARK N...