Cathie Wood’s investment firm, Ark Invest, increased its investments in Coinbase (COIN) shares and made another $3.1 million purchase.
Ark Invest continues to increase its Coinbase investments. In the midst of the FTX crisis last month continuing share purchases The company also made its first purchase this month. ArkInvest, 3.1 million dollars worth 78,982 shares took more.
Ark Invest made its last purchase on December 9th. ARK Innovation ETF (ARKK) fund, raising the total number of Coinbase shares of this ETF to 5.7 million. In addition, Ark Invest’s share of Coinbase within the scope of all funds has reached 8.2 million with this purchase.
With this purchase made within the Ark Innovation ETF, the total value of the company’s shares $329.9 million reached. The weight of Coinbase shares in the company’s portfolio since the last purchase from 2.93% to 2.71% fell.
Coinbase shares, on the other hand, hit an all-time low (ATL) yesterday. $39.65Ark Invest seems to be evaluating the falling share price. However, Coinbase CEO Brian Armstrong has seen the company’s revenues this year compared to last year due to the effects of the bankrupt cryptocurrency exchange FTX on the market. 50% less He said he expected it to happen. Experts, Ark Invest’s from low income expectations by the end of the year by taking advantage of the weight of Coinbase in its portfolio. can increase expresses it.