ARK Invest’s Kathy Wood buys Coinbase shares for first time since June

Managed by ARK Invest, the flagship Ark Innovation ETF (ARKF) purchased 10,880 Coinbase shares, bringing the total position to $60.5 million or 8% of AUM.

According to documents filed with the SEC, across all funds the asset manager holds 7.7 million Coinbase shares with an average purchase price of $218.45. Over the past year the figure has risen by 2 million.

On October 25, Coinbase shares closed up 13.04%, at $75.05. The driver was Bitcoin’s rise above $20,000. Since the start of the year, shares have fallen 70.3%.

Earlier, Kathy Wood forecast Bitcoin’s market capitalization to reach $4.5 trillion.

ARK Invest sold Coinbase shares in July for about $75 million.

The decision came amid reports of a SEC investigation into the cryptocurrency exchange’s activities.

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