COIN

Generation

Million

Cathie Wood's Ark Invest made another significant purchase of Coinbase shares on Tuesday, adding nearly $4 million worth of COIN to three exchange-traded funds (ETFs).
<h2 id="ark-invest-continues-to-buy-coinbase-bottom-wave-adds-4-million-worth-of-coin">Ark Invest Continues to Buy Coinbase Bottom Wave, Adds $4 Million Worth of COIN</h2>
The transaction, which follows a large purchase of Coinbase shares on Monday, reflects Ark's ongoing strategy to capitalize on market volatility.
Ark Invest purchased 19,892 Coinbase shares worth approximately $3.9 million on Tuesday. The purchases were distributed among Ark's three ETFs.
According to the firm's latest trading filings, 13,833 shares ($2.7 million) for the Innovation ETF (ARKK), 2,743 shares ($533,000) for the Next Generation Internet ETF (ARKW) and 3,316 shares ($644,000) for the Fintech Innovation ETF (ARKF). ).
This latest acquisition follows Ark's purchase of $17.8 million worth of Coinbase shares on Monday.
It is the first buyback since it purchased $21 million worth of COIN in June 2023. During this time, Coinbase's shares rose significantly by over 250%, causing Ark to sell shares at various points.
Ark Invest's strategy aims to provide diversification by preventing any one holding from exceeding 10% of the ETF portfolio. As a result, Ark is likely to continue adjusting its COIN holdings based on the stock's performance relative to other investments in its funds.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/cathie-woods-ark-invest-continues-purchasing-coinbase-shares-made-another-purchase-after-yesterday/" rel="noopener noreferrer nofollow">Cathie Wood's Ark Invest Continues Purchasing Coinbase Shares! Made Another Purchase After Yesterday!</a>

Cathie Wood's Ark Invest Continues Purchasing Coinbase Shares! Made Another Purchase After Yesterday!

Table of Contents

Bitcoin Sistemi EN

Other articles published on Aug 7, 2024

Ripple (XRP) vs. ETFSwap (ETFS): Which Coin Will Reach $50 First?

BOJ President Considers Revising Interest Rate Hike if Markets Destabilize

DeFi Protocol Nexera Hacked for $1.5 Million Today

Spot Bitcoin ETFs See Massive Outflows While Ether ETFs Shows Positivity

Russia Advances Crypto and Mining Regulations as US Sanctions Impact Economy

Weekly Article Recap: 7/22-7/26

Join our free newsletter for daily crypto updates!