Ark Invest Purchases 62,166 Coinbase Shares for $16.5 Million

Ark Investments Purchases Coinbase Shares

Ark Investments, led by Cathie Wood, acquired 62,166 shares of Coinbase (COIN), amounting to $16.5 million.
This is Ark's largest purchase of COIN shares since August 1, despite a recent 30% price drop.
The shares were distributed across three ETFs: Ark Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Blockchain & Fintech Innovation ETF (ARKF).
COIN closed at $264.97, marking a 4.27% increase during the broader crypto market recovery.

COIN stock shows signs of a bounceback. | Source: TradingView

Cathie Wood's Market Outlook

Cathie Wood anticipates an end to liquidity tightening, which has impacted AI and crypto sectors recently.
She refers to potential policy changes hinted by Fed Chair Jerome Powell, suggesting a Fed rate cut in December.
Ark Invest predicts market conditions will improve with the return of liquidity and the ending of quantitative tightening on December 1st.
$70 billion has already re-entered markets post-U.S. government shutdown, with an additional $300 billion expected in the coming weeks.