Cathie Wood’s ARK Fintech Innovation ETF Purchases More Coinbase

By    2 Nov,2022

ARK’s Fintech Innovation Fund (ARKF) has added 10,880 shares of Coinbase to its holdings, bringing the fund’s total holdings to $60.5 million, or approximately 8% of its weight.


According to 13F filings with the Securities and Exchange Commission, this would be ARK’s first purchase of Coinbase stock since June (SEC). Cathie Wood, ARK’s Chief Investment Officer, stated in August that the fund had reduced its holdings in Coinbase due to an SEC investigation into the crypto exchange.

At the time, Wood described the investigation as a “thesis risk” for Coinbase and stated that ARK would be selling 1.1 million COIN shares, which she described as “very little.”

Both Wood and ARK are still quite positive on Coinbase and cryptocurrency in general. According to 13F filings, ARK owns 7.7 million shares of COIN and has added almost 2 million shares to its holdings during the last year. According to filings, ARK paid an estimated average price of $218.45 for all of its COIN purchases.

Wood stated on Peter McCormack’s “What Bitcoin Did” podcast that she bought $100,000 worth of bitcoin (BTC) when it was trading at $250 and hasn’t sold it since. At current market values, her personal BTC holdings are projected to be worth $7.6 million.



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