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Cathie Wood’s Ark Invest Buys Coinbase Shares Again

07.08.2024 16:30 1 min. read Alexander Stefanov
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Cathie Wood’s Ark Invest Buys Coinbase Shares Again

Ark Invest bought another 19,892 shares of Coinbase worth $3.9 million through three of its exchange-traded funds on Tuesday, continuing to rebalance its funds' holdings after Monday's market plunge.

The Cathie Wood-led investment firm bought 13,833 shares worth $2.7 million for its ARKK ETF, 2,743 shares ($533,000) through its ARKW ETF and 3,316 shares $644,000 for its ARKF, according to the company’s latest trading documents.

The latest acquisitions follow another Coinbase stock purchase valued at $17.8 million that Ark purchased for the same funds on Monday.

Ark’s investment strategy includes the idea that no single position should take up more than 10% of an ETF’s portfolio. The idea behind these actions is to maintain diversification within the funds, which means Ark will likely continue to rebalance COIN’s stake if stocks rise or fall significantly relative to Ark’s other fund holdings.

COIN is now reportedly the third-largest stock within the ARKK ETF with an 8.7% stake, worth $445.3 million as of Aug. 6. COIN is the fourth-largest holding in its ARKW ETF with 6.8% ($84.4 million). Coinbase shares also represent the company’s largest stake in its ARKF fund with 9.8%, worth $75.1 million.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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