{"id":77810,"date":"2023-04-25T14:26:07","date_gmt":"2023-04-25T11:26:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=77810"},"modified":"2025-09-11T01:22:27","modified_gmt":"2025-09-10T22:22:27","slug":"ark-invest-adds-coinbase-shares-worth-8-6-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ark-invest-adds-coinbase-shares-worth-8-6-million\/","title":{"rendered":"ARK Invest adds Coinbase shares worth $8.6 million"},"content":{"rendered":"<p>ARK Invest-managed funds <a href=\"https:\/\/ark-funds.com\/ark-trade-notifications\/\">increased<\/a> their holdings in Coinbase shares by about $8.6 million.<\/p>\n<p>The investment company also purchased additional securities on the same day that the crypto exchange <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-sues-sec-to-compel-a-response-to-its-rulemaking-petition\">filed a lawsuit against<\/a> the U.S. Securities and Exchange Commission.<\/p>\n<p>Cathie Wood\u2019s firm\u2019s portfolios allocated the purchases as follows:<\/p>\n<ul class=\"wp-block-list\">\n<li>flagship ARK Innovation ETF \u2014 122,083 shares;<\/li>\n<li>ARK Next Generation ETF \u2014 20,327 shares;<\/li>\n<li>ARK Fintech Innovation ETF \u2014 14,633 shares.<\/li>\n<\/ul>\n<p>Based on the close price of $54.75, the total amounted to nearly $8.6 million.<\/p>\n<p>In late March, ARK Invest, in two sessions (the 24th and 27th), bought blocks of Coinbase shares. The firm took advantage of the price pullback from near $84 to around $66.<\/p>\n<p>In the last 30 days, the crypto exchange&#8217;s shares have fallen about 15%. At the time of writing, the premarket price was $54.25.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image-234.webp\" alt=\"image-234\" class=\"wp-image-205325\"\/><figcaption>Data: <a href=\"https:\/\/www.marketwatch.com\/investing\/stock\/coin?mod=search_symbol\">MarketWatch<\/a>.<\/figcaption><\/figure>\n<p>ARK Invest <a href=\"https:\/\/u1f987.com\/en\/news\/ark-invests-kathy-wood-buys-coinbase-shares-for-first-time-since-june\">resumed purchasing Coinbase shares<\/a> in October 2022 for the first time since June. The firm steadily increased its positions in the stock and only in March <a href=\"https:\/\/u1f987.com\/en\/news\/ark-invest-unloads-coinbase-shares-for-13-5-million\">disposed of a stake worth $13.5 million<\/a>.<\/p>\n<p>Stocks of cryptocurrency-related companies typically correlate with Bitcoin&#8217;s price. Since the start of the year, Bitcoin has risen about 65.5%, Coinbase&#8217;s shares have gained 50%. Digital gold is trading around $27,400 (<a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>).<\/p>\n<p>In January, Ark Invest experts projected that Bitcoin could <a href=\"https:\/\/u1f987.com\/en\/news\/ark-invest-bitcoin-price-to-exceed-1-million-by-2030\">rise to $1.36 million<\/a> by 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ARK Invest funds have increased their holdings in Coinbase shares by about $8.6 million.<\/p>\n","protected":false},"author":1,"featured_media":77811,"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":[1218,138,1211],"class_list":["post-77810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ark-invest","tag-coinbase","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77810","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=77810"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77810\/revisions"}],"predecessor-version":[{"id":77812,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77810\/revisions\/77812"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/77811"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=77810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=77810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=77810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}