Cathie Wood’s ARK continues buying the dip as Coinbase stock is down 87% year-over-year.
Cathie Wood, veteran investor and CEO of ARK Invest, remains bullish on the cryptocurrency industry and centralized exchanges despite the bear market and the crypto crisis.
Wood’s investment management firm ARK continues accumulating the stock of the major United States cryptocurrency exchange, Coinbase. On Jan. 5, ARK purchased 144,463 Coinbase shares for allocation by its financial technology-focused fund, ARK Fintech Innovation ETF , according to a trade notification seen by Cointelegraph. At the time of writing, the purchase is worth $4.8 million, with COINOn the same day, ARK also bought 27,813 COIN shares to be allocated to its internet technology-focused fund, ARK Next Generation Internet ETF . Together, the funds have added a total of $5.7 million worth of Coinbase’s stock.
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