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Ark Investment Management Increases Coinbase Holdings to 1.5M Shares
Three ARK funds also sold a combined 233,147 shares in Nvidia worth around $13.4 million.
New York-based Ark Investment Management has once again significantly increased its holdings of Coinbase's (COIN) shares following the exchange’s debut on Nasdaq last week.
STORY CONTINUES BELOW
- Bitcoin bull Cathie Wood's firm purchased another 244,717 COIN Wednesday worth an estimated $76.3 million.
- The shares were split between 195,108 bought by the Ark Innovation ETF (ARKK) and 52,609 by the ARK Next Generation Internet ETF (ARKW).
- Three ARK funds also sold a combined 21856 shares in Nvidia worth around $13.4 million. NVIDIA is a major graphics card manufacturer and its products are often used for crypto mining.
- The company’s funds initially purchased 749,205 COIN shares worth around $246 million on its first day of trading on April 14 followed by another 341,186 (~$110 million) on April 15.
- On Wednesday, the company followed its purchases with another 236,348 shares bringing the total amount of shares bought to 1,571,456.
- COIN fell 2.77% Wednesday to $311.92.
See also: Ark Investment Funds Bought $246M Worth of Coinbase Shares on First Day of Trading
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
