Cathie Wood’s Ark Doubles Down on Coinbase with $4.8M Share Purchase
- Ark Invest buys $4.8M in Coinbase shares across three ETFs despite market volatility.
- Coinbase stock declines 3.69% amid trade tensions and tariff fears.
- Latest purchase follows a $13.3M COIN acquisition made just days earlier.
Ark Invest, led by their fund manager Cathie Wood, continued its strategic push into Coinbase (COIN), acquiring $4.8 million worth of shares on Tuesday. Ark invested in 31,730 shares of Coinbase ahead of U.S. President Donald Trump’s tariffs becoming effective at midnight on Wednehaven’tsday through three of their exchange-traded funds (ETFs). The action demonstrates that Ark continues investing in Coinbase because they view it as essential to their strategy of expanding their presence within the crypto space.
ARK Invest conducted significant Coinbase stock acquisitions through three ETFs namely ARKK, ARKW and ARKF on Tuesday. The ARKK ETF made an investment of $1.7 million through 11,522 shares and ARKW invested $2.3 million through 15,313 shares. ARKF also added 4,895 shares, totaling $741,400.
These acquisitions follow a previous purchase of $13.3 million in Coinbase shares for the ARKW and ARKF funds just a day earlier, showing Ark Invest’s deepening investment in the cryptocurrency exchange.
Coinbase Shares Decline Despite Ark’s Increased Investment
Despite Ark’s increased stake in Coinbase, the stock declined on Tuesday. Coinbase stock finished trading at $151.47 after a 3.69% decrease and continued dropping by another 3.18% during after-hours trading. The share market exhibits downward movements because of present trade conflict conditions.
Investors are particularly concerned about the impact of Trump’s tariffs, which now include a massive 104% tariff on Chinese goods. This and a broader market downturn have contributed to the uncertainty affecting Coinbase’s stock performance. Major U.S. stock indexes, including the Dow Jones and S&P 500, ended lower on Tuesday, with the Nasdaq also facing significant losses.
This sequence of investments from Ark Invest underscores the firm’s belief in Coinbase’s potential despite the volatility in the cryptocurrency and broader financial markets.
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Cathie Wood’s Ark Doubles Down on Coinbase with $4.8M Share Purchase
- Ark Invest buys $4.8M in Coinbase shares across three ETFs despite market volatility.
- Coinbase stock declines 3.69% amid trade tensions and tariff fears.
- Latest purchase follows a $13.3M COIN acquisition made just days earlier.
Ark Invest, led by their fund manager Cathie Wood, continued its strategic push into Coinbase (COIN), acquiring $4.8 million worth of shares on Tuesday. Ark invested in 31,730 shares of Coinbase ahead of U.S. President Donald Trump’s tariffs becoming effective at midnight on Wednehaven’tsday through three of their exchange-traded funds (ETFs). The action demonstrates that Ark continues investing in Coinbase because they view it as essential to their strategy of expanding their presence within the crypto space.
ARK Invest conducted significant Coinbase stock acquisitions through three ETFs namely ARKK, ARKW and ARKF on Tuesday. The ARKK ETF made an investment of $1.7 million through 11,522 shares and ARKW invested $2.3 million through 15,313 shares. ARKF also added 4,895 shares, totaling $741,400.
These acquisitions follow a previous purchase of $13.3 million in Coinbase shares for the ARKW and ARKF funds just a day earlier, showing Ark Invest’s deepening investment in the cryptocurrency exchange.
Coinbase Shares Decline Despite Ark’s Increased Investment
Despite Ark’s increased stake in Coinbase, the stock declined on Tuesday. Coinbase stock finished trading at $151.47 after a 3.69% decrease and continued dropping by another 3.18% during after-hours trading. The share market exhibits downward movements because of present trade conflict conditions.
Investors are particularly concerned about the impact of Trump’s tariffs, which now include a massive 104% tariff on Chinese goods. This and a broader market downturn have contributed to the uncertainty affecting Coinbase’s stock performance. Major U.S. stock indexes, including the Dow Jones and S&P 500, ended lower on Tuesday, with the Nasdaq also facing significant losses.
This sequence of investments from Ark Invest underscores the firm’s belief in Coinbase’s potential despite the volatility in the cryptocurrency and broader financial markets.
Highlighted Crypto News Today:
Trump-Linked WLFI Dumps $8M in Ethereum at Loss as Market Bleeds
Read More