2 months ago
Cathie Wood’s ARK Investment Management took vantage of the $5.4 trillion U.S. equities marketplace sell-off and purchased implicit 83,000 shares of Coinbase (COIN), expanding vulnerability to the crypto speech adjacent arsenic prices dipped sharply crossed the board.
The full shares purchased were worthy much than $13 million, taking Friday's closing terms for Coinbase.
According to ARK’s regular trading disclosure for April 4, Wood’s flagship ARK Innovation ETF (ARKK) bought astir 55,000 Coinbase shares, with further purchases coming from the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF).
The timing is notable. Coinbase shares person slipped much than 12% during the marketplace rout, portion bitcoin and different cryptocurrencies showed resilience. The CoinDesk 20 (CD20) scale dropped by 5.8% successful the aforesaid period. The sell-off came aft U.S. President Donald Trump unveiled his reciprocal tariffs against astir each state successful the world.
Read more: Bitcoin Begins to Decouple From Nasdaq arsenic U.S. Stocks Crumble
English (US) 