{"id":580396,"date":"2023-01-06T15:53:16","date_gmt":"2023-01-06T15:53:16","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=580396"},"modified":"2023-01-06T15:53:27","modified_gmt":"2023-01-06T15:53:27","slug":"cathie-woods-ark-invest-demonstrates-confidence-in-coinbase-with-another-5-8-million-share-purchase","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/cathie-woods-ark-invest-demonstrates-confidence-in-coinbase-with-another-5-8-million-share-purchase\/","title":{"rendered":"Cathie Wood&#8217;s Ark Invest Demonstrates Confidence in Coinbase with Another $5.8 Million Share Purchase"},"content":{"rendered":"\n<ul><li>Ark Invest, a firm founded by Cathie Wood, has purchased $5.8 million worth of Coinbase shares<\/li><li>The purchases were made by Ark&#8217;s ARKW and ARKF funds<\/li><li>Ark Invest&#8217;s ARKF fund was established in 2019 and focuses on companies using technology to transform financial services, with Coinbase representing 7.7% of its assets<\/li><li>The ARKW fund, launched in 2014, focuses on companies relevant to Ark&#8217;s investment theme of the next generation internet, with Coinbase and Grayscale Bitcoin Trust among its top 10 holdings<\/li><li>Ark has previously demonstrated confidence in Coinbase by buying dips in the market, including a $12.1 million investment in November 2022<\/li><\/ul>\n\n\n\n<ul><li>As of late November, Ark&#8217;s total stake in Coinbase reached almost 8.7 million shares, approaching all-time highs<\/li><\/ul>\n\n\n\n<p>Cathie Wood&#8217;s investment firm, Ark Invest, has demonstrated confidence in Coinbase even as the crypto exchange&#8217;s share price falls. On Thursday, Ark Invest purchased $5.8 million worth of Coinbase shares, with the ARKW fund buying 27,813 shares and the ARKF fund buying 144,463 shares. Coinbase&#8217;s share price closed at $33.53 on Thursday, a drop of 11% from the previous day.<\/p>\n\n\n\n<p>ARK Invest&#8217;s ARKF fund was established in 2019 and invests in the equity securities of companies that Ark believes are using technology to transform financial services and economic transactions. Coinbase is a major holding in the fund, representing 7.7% of its total assets. The ARKW fund, which was launched in 2014, focuses on equities of companies relevant to Ark&#8217;s investment theme of the next generation internet. As of January 5th, Grayscale Bitcoin Trust and Coinbase were among the top 10 holdings of the ARKW fund, representing 5.4% and 4.8% of its total assets, respectively.<\/p>\n\n\n\n<p>Ark&#8217;s latest purchases of Coinbase stock mark a bullish move by the company, as Ark has previously been active in buying dips in the market. In November 2022, Ark invested $12.1 million in Coinbase shares despite market turmoil caused by the FTX collapse. As of late November, Ark&#8217;s total stake in Coinbase reached almost 8.7 million shares, approaching all-time highs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ark Invest, a firm founded by Cathie Wood, has purchased $5.8 million worth of Coinbase shares The purchases were made by Ark&#8217;s ARKW and ARKF funds Ark Invest&#8217;s ARKF fund was established in 2019 and focuses on companies using technology to transform financial services, with Coinbase representing 7.7% of its assets The ARKW fund, launched in 2014, focuses on companies relevant to Ark&#8217;s investment theme of the next generation internet, with Coinbase and Grayscale Bitcoin Trust among its top 10 [&hellip;]<\/p>\n","protected":false},"author":63,"featured_media":572126,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/580396"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=580396"}],"version-history":[{"count":1,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/580396\/revisions"}],"predecessor-version":[{"id":580397,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/580396\/revisions\/580397"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/572126"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=580396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=580396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=580396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}