Tech investor extraordinaire Cathie Wood’s ARK Invest has offered nearly $52 million in Coinbase stock, a filing in the firm shows.
ARK’s Innovation ETF (ARKK), Next-gen Internet ETF (ARKW), and Fintech Innovation ETF (ARKF) offloaded as many as 199,526 shares. ARK had offered nearly $96 million in Gold coin earlier this year.
ARK Invest buys tech stocks along with other companies associated with the AI and crypto space. Wood has frequently banged the Bitcoin drum and stated the asset is originating for gold’s share of the market.
Her firm remains among the greatest holders of Coinbase stock.
America’s greatest cryptocurrency exchange, Coinbase trades around the Nasdaq underneath the ticker Gold coin after going public in 2021.
Its stock is today costing $257.32 per share and it has been in a tear lately: in the last month, it’s increased by 50 plusPercent. Year-to-date, Gold coin expires 236%.
The Bay Area-based company recently released its Q4 2023 earnings results showing it had switched an income partly because of interest earned on its USD Gold coin (USDC) stablecoin reserves.
Edited by Ryan Ozawa.
