{"id":76212,"date":"2023-03-27T11:15:00","date_gmt":"2023-03-27T08:15:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76212"},"modified":"2025-09-10T16:08:11","modified_gmt":"2025-09-10T13:08:11","slug":"ark-invest-builds-positions-in-coinbase-and-block-over-two-consecutive-days","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ark-invest-builds-positions-in-coinbase-and-block-over-two-consecutive-days\/","title":{"rendered":"ARK Invest builds positions in Coinbase and Block over two consecutive days"},"content":{"rendered":"<p>ARK Invest-managed funds<a href=\"https:\/\/ark-funds.com\/ark-trade-notifications\/\"> purchased<\/a> <a href=\"https:\/\/forklog.com\/en\/news\/what-is-coinbase\"> Coinbase<\/a> and Block for a total of $12.6 million.<\/p>\n<p>Cathie Wood&#8217;s funds took advantage of the sharp drop in the companies&#8217; market capitalizations. This was prompted by the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> announcement of an investigation into the activities of the bitcoin exchange and Hindenburg Research&#8217;s<a href=\"https:\/\/hindenburgresearch.com\/block\/\"> open a short<\/a> on the stock of Jack Dorsey&#8217;s firm.<\/p>\n<p>The purchases were allocated as follows:<\/p>\n<ul class=\"wp-block-list\">\n<li>the flagship Ark Innovation ETF (ARKK) \u2014 158,833 Coinbase shares and 237,601 Block shares;<\/li>\n<li>Next Generation Internet (ARKW) \u2014 26,394 Coinbase shares and 38,787 Block shares;<\/li>\n<li>Fintech Innovation ETF (ARKF) \u2014 22,083 Block shares.<\/li>\n<\/ul>\n<p>A day earlier, ARK Invest bought a total of 268,928 Coinbase shares <a href=\"https:\/\/forklog.com\/en\/news\/ark-invest-resumes-coinbase-stock-purchases-investments-total-17-8-million\">for $17.8 million<\/a> and 338,072 Block shares for $45.08 million.<\/p>\n<p>The move followed a partial sale of the bitcoin exchange <a href=\"https:\/\/forklog.com\/en\/news\/ark-invest-unloads-coinbase-shares-for-13-5-million\">for $13.5 million<\/a> two days earlier.<\/p>\n<p>In October 2022, ARK Invest <a href=\"https:\/\/forklog.com\/en\/news\/ark-invests-kathy-wood-buys-coinbase-shares-for-first-time-since-june\">bought<\/a> Coinbase securities for the first time since June. In November, the management firm&#8217;s funds <a href=\"https:\/\/forklog.com\/en\/news\/ark-invests-kathy-wood-increases-coinbase-stake-by-21-4-million\">spent another $21.4 million<\/a> for these purposes, in December \u2014 <a href=\"https:\/\/forklog.com\/en\/news\/ark-invest-buys-more-coinbase-shares-for-about-3-million\">$3 million<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/ark-invests-cathie-wood-adds-another-5-million-to-coinbase-shares\">$5 million<\/a>.<\/p>\n<p>In February 2023, the firm invested in the platform <a href=\"https:\/\/forklog.com\/en\/news\/ark-invest-buys-more-coinbase-shares-worth-about-6-7-million\">$6.7 million<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/ark-invests-cathie-wood-allocates-9-3-million-toward-coinbase-shares\">$9.27 million<\/a>. By the end of the month, ARK Invest had purchased Coinbase shares worth <a href=\"https:\/\/forklog.com\/en\/news\/ark-invests-cathie-wood-buys-coinbase-shares-worth-about-3-9-million\">$16.9 million<\/a>.<\/p>\n<p>In March, the organization <a href=\"https:\/\/forklog.com\/en\/news\/ark-invests-cathie-wood-buys-coinbase-and-robinhood-shares-for-13-4-million\">directed<\/a> an additional $3.44 million to these ends.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ARK Invest-managed funds purchased Coinbase and Block shares for a total of $12.6 million.<\/p>\n","protected":false},"author":1,"featured_media":76213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1218,138,1330],"class_list":["post-76212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ark-invest","tag-coinbase","tag-jack-dorsey"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=76212"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76212\/revisions"}],"predecessor-version":[{"id":76214,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76212\/revisions\/76214"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/76213"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=76212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=76212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=76212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}