Ark Invest Adds Heavily to Coinbase Position During Friday Market Sell-Off

Ark Invest buys $13.3 million more Coinbase (COIN) stock during market dip last Friday COIN now second largest holding in ARKF ETF (9.4 percent), nearing Ark’s position cap Cathie Wood stays bullish on Bitcoin/ETH/SOL, warns memecoins could go to zero Cathie Wood’s Ark Invest stepped up its Coinbase (COIN) buying last Friday, adding $13.3 million worth of the crypto exchange’s stock across three of its ETFs during a broader market pullback that saw COIN shares drop roughly 5%. How Much COIN Shares Did Ark Buy? Ark’s flagship ARK Innovation ETF (ARKK) bought 54,988 COIN shares, worth about $8.8 million at Friday’s prices . Two other funds added to positions: the ARK Next Generation Internet ETF (ARKW) purchased 15,982 shares (~$2.5 million), and the ARK Fintech Innovation ETF (ARKF) acquired 12,187 shares (~$2 million), according to Ark’s daily trade disclosures. Related: ARK Invest Buys $80M in Bitcoin from Coinbase in a Single Day How Big is COIN in Ark’s ETFs Now? These purchases significantly increase Coinbase’s weight in Ark’s portfolio . COIN now represents about 7.5 percent of ARKK ($342 million stake) and has become the second-largest holdi… The post Ark Invest Adds Heavily to Coinbase Position During Friday Market Sell-Off appeared first on Coin Edition .