Ark Invest Purchases 17,386 Coinbase Shares Worth $4.2 Million
Ark Invest, led by Cathie Wood, has acquired 17,386 Coinbase (COIN) shares worth approximately $4.2 million across its ETFs. The distribution is as follows:
- Ark Innovation ETF (ARKK): 12,081 shares ($2.9 million)
- Ark Next Generation Internet ETF (ARKW): 3,495 shares ($836,000)
- Ark Fintech Innovation ETF (ARKF): 1,810 shares ($433,000)
This acquisition follows a recent purchase of $60 million in crypto stocks, including COIN, Circle, and Bullish. On December 15, Ark Invest bought 64,946 COIN shares for about $16.3 million following a 6% stock correction, indicating strategic buying during a dip.
Previously in July, Ark Invest sold Coinbase shares worth approximately $12.1 million during a portfolio rebalancing. Currently, COIN is the fourth-largest holding in ARKK (5.3%, ~$388.5 million), seventh in ARKW (4.7%, $102 million), and second in ARKF (5.9%, $66.2 million).
Ark Invest continues to adjust its COIN holdings based on stock price fluctuations to maintain balanced portfolio weightings.