Ark Invest's Cathie Wood continued to add to her Coinbase holding despite the increased regulatory crackdown on the crypto industry.
Wood snapped up 102,281 shares of the crypto exchange for her flagship ARK Innovation ETF on Monday, and another 16,414 shares for ARK Next Generation Internet ETF . Wood also bought 139,105 shares of Coinbase for the Innovation ETF on Friday. These purchases, combined, were worth more than $15 million. The back-to-back buys came amid a flurry of aggressive regulatory actions from U.S. authorities.
mountain Coinbase Shares of Coinbase rebounded sharply in January with a 65% return, becoming one of ARKK's biggest winners for the month. The ETF gained 27.8% in January, its strongest month ever since its 2014 inception. Coinbase saw its shares dip more than 3% month to date on the back of the regulatory uncertainty. Wood has been standing by her bold call on bitcoin even amid the fallout in the crypto industry.
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