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Cathie Wood’s Ark Invest Buys $12.6 Million Worth of Coinbase Shares for Second Consecutive Day

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On March 27th, Cathie Wood\’s Ark Invest purchased another $12.6 million worth of Coinbase (COIN) shares last Friday, which was the second consecutive day that the fund purchased sh

Cathie Woods Ark Invest Buys $12.6 Million Worth of Coinbase Shares for Second Consecutive Day

On March 27th, Cathie Wood’s Ark Invest purchased another $12.6 million worth of Coinbase (COIN) shares last Friday, which was the second consecutive day that the fund purchased shares on the Cryptocurrency Exchange after receiving a Wells notification from the Securities and Exchange Commission (SEC) on March 22nd. The stock rose 1.5% on Friday to close at $67.83 per share. According to an email sent on Friday night US time, 155833 shares went to ARK Innovation EFT (ARKK) and 26395 shares went to ARK Next Generation Internet EFT (ARKW). （CoinDesk）

Ark Invest increased its holdings of Coinbase stocks by $12.6 million and Block stocks by $18.1 million last Friday

Bitcoin, the world’s largest cryptocurrency, experienced a sudden surge in its value earlier this year, reaching an all-time high of $64,863.10 on April 14th. This rally put the virtual currency back in focus, prompting many investors to take notice, including Cathie Wood’s Ark Invest.
On March 27th, Cathie Wood’s Ark Invest purchased another $12.6 million worth of Coinbase shares, which was the second consecutive day that the fund purchased shares on the cryptocurrency exchange after receiving a Wells notification from the Securities and Exchange Commission (SEC) on March 22nd. The stock rose 1.5% on Friday to close at $67.83 per share.

The Relationship Between Ark Invest and Coinbase

Ark Invest is a well-known investment management firm that specializes in investing in companies with disruptive technology. Coinbase is a cryptocurrency exchange that allows customers to buy, sell, and store digital assets. Ark Invest’s decision to invest in Coinbase reflects the company’s belief that digital assets are the future of finance.
Ark Invest is a major investor in Coinbase, with its ARK Innovation EFT (ARKK) and ARK Next Generation Internet EFT (ARKW) holding over 5 million shares of the company, worth over $540 million.

The Significance of Ark Invest’s Investment in Coinbase

Ark Invest’s investments carry significant weight in the financial markets; her funds hold shares in companies such as Tesla, Twitter, and Square. The investment firm’s bet on Coinbase is a significant endorsement of the cryptocurrency exchange and solidifies Crypto’s status as a promising asset class with long-term potential.
Furthermore, Ark Invest’s contribution comes at a time when Coinbase is preparing to go public on April 14 through a direct listing on the NASDAQ, making Ark’s investment in Coinbase an even more significant vote of confidence.

The Future of Cryptocurrency Investment

Many investors, including institutional investors, are now starting to view cryptocurrencies as legitimate assets, and many have added them to their portfolios. Bitcoin has grown from a relatively unknown entity to a globally recognized asset class in just over a decade.
As traditional financial institutions begin to adapt and integrate digital assets into their operations, the growth of cryptocurrencies will continue. With more investors like Cathie Wood’s Ark Invest investing in cryptocurrency, it won’t be long before digital assets become a mainstream asset class.

Conclusion

Ark Invest’s purchase of $12.6 million worth of Coinbase shares highlights the growing interest among institutional investors in cryptocurrencies. Cathie Wood’s reputation for investing in disruptive technology and her significant influence in the financial markets mean that her fund’s investment in Coinbase is a significant vote of confidence for the cryptocurrency exchange.
As the digital asset class continues to grow, it is clear that the financial world is no longer ignoring the potential of cryptocurrencies. Investors are now accepting that they need to pay attention and include Bitcoin and other cryptos in their portfolios to stay ahead of the curve.

FAQs

1. What is Ark Invest?
Ark Invest is a major investment management firm that specializes in investing in companies with disruptive technology.
2. What is Coinbase?
Coinbase is a cryptocurrency exchange that allows customers to buy, sell, and store digital assets.
3. What Does Ark Invest’s Purchase of Coinbase Shares Mean?
Ark Invest’s purchase of $12.6 million worth of Coinbase shares highlights the growing interest among institutional investors in cryptocurrencies and solidifies the long-term potential of the digital asset.

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