ARK Invest’s Kathy Wood Increases Coinbase Stake by $21.4 Million

ARK Invest funds acquired a total of 420,949 Coinbase shares for $21.4 million.

The purchase was distributed as follows:

• Flagship fund Ark Innovation ETF (ARKK) — 330 461 shares;
• Next Generation Internet (ARKW) — 54 466;
• Fintech Innovation (ARKF) — 36 022.

Coinbase shares closed on November 8 down 10.8% amid a Bitcoin crash of 10%.

In premarket trading, the stock is valued at $48.50, 4.6% below Tuesday’s close. The first cryptocurrency is down 5%. Since the start of the year, Coinbase’s shares have fallen by 80%.

Earlier in October, Kathy Wood of ARK Invest bought Coinbase shares for the first time since June.

The Bitcoin exchange’s net loss in the third quarter of 2022 amounted to $545 million compared with $1.1 billion in the previous period.

Earlier, Coinbase CEO Brian Armstrong ruled out the impact of the FTX crisis on the platform.

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