{"id":75354,"date":"2023-03-10T16:25:04","date_gmt":"2023-03-10T14:25:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75354"},"modified":"2025-09-10T11:07:22","modified_gmt":"2025-09-10T08:07:22","slug":"ark-invests-cathie-wood-adds-coinbase-shares-worth-about-20-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ark-invests-cathie-wood-adds-coinbase-shares-worth-about-20-million\/","title":{"rendered":"ARK Invest\u2019s Cathie Wood Adds Coinbase Shares Worth About $20 Million"},"content":{"rendered":"

The flagship ARK Invest fund, Ark Innovation ETF (ARKK) purchased<\/a> 301,437 Coinbase shares, while ARK Next Generation Internet ETF (ARKW) bought 52,525.<\/p>\n

Based on a closing price of $58.09, the purchase cost the firm just over $20 million. The largest U.S. stock exchange’s shares fell 7.81% during the March 10 trading session. Premarket forecasts anticipate a further decline to $57.38.<\/p>\n

\"ARK
Source: MarketWatch<\/a>.<\/figcaption><\/figure>\n

Since the start of the year Coinbase stock has risen from $33.60 by about 73%. The peak was recorded on February 2 at $81.46.<\/p>\n

In mid-last month ARK Invest bought Coinbase shares worth about $9.3 million and $6.7 million.<\/p>\n

ARKK, with total assets of $840.3 million, Coinbase shares in the portfolio account for 10.33%; ARKW (1.24 billion) \u2014 6.36%.<\/p>\n

Resumed<\/a> acquiring Coinbase shares by ARK Invest in October 2022. In the following month, the funds spent another $21.4 million<\/a> on these targets, in December \u2014 $3 million<\/a> and $5 million<\/a>.<\/p>\n

The firm continued to increase Coinbase’s share in the portfolio, despite early-2023 rumors of claims by the U.S. Securities and Exchange Commission against the platform’s staking program. Coinbase CEO Brian Armstrong said he was prepared to defend the position in court.<\/p>\n

In February it emerged that another U.S. platform \u2014 Kraken \u2014 settled SEC charges<\/a> regarding a similar product. The company agreed to pay a $30 million fine and shut the program.<\/p>\n

Earlier, ARK Invest founder and CEO Cathie Wood forecast Bitcoin’s market capitalization rising to $4.5 trillion. Shares of crypto-related companies typically correlate with the price of digital gold.<\/p>\n

Earlier, in July 2022, ARK Invest divested Coinbase shares for $75 million. The move came amid reports of the SEC’s investigation into the exchange’s activities.<\/p>\n","protected":false},"excerpt":{"rendered":"

The flagship ARK Invest fund Ark Innovation ETF (ARKF) bought 301,437 Coinbase shares, and ARK Next Generation Internet ETF (ARKW) bought 52,525.<\/p>\n","protected":false},"author":1,"featured_media":75355,"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],"class_list":["post-75354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ark-invest","tag-coinbase"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=75354"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75354\/revisions"}],"predecessor-version":[{"id":75356,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75354\/revisions\/75356"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75355"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}