Investment Company ARK Invest Purchased Coinbase Shares After a Long Break! Here Are the Details

CoinMarketCap10-09

Cathie Wood’s investment firm ARK Invest has made a notable move by purchasing approximately $2.2 million worth of Coinbase (COIN) stock. Cathie Wood's ARK Invest Buys $2.2 Million Worth of Coinbase ...

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Here Are the Details\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-09 20:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://coinmarketcap.com/community/articles/6706797c104e133a44a9b2cc/><strong>CoinMarketCap</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cathie Wood’s investment firm ARK Invest has made a notable move by purchasing approximately $2.2 million worth of Coinbase (COIN) stock.\nCathie Wood's ARK Invest Buys $2.2 Million Worth of Coinbase ...</p>\n\n<a href=\"https://coinmarketcap.com/community/articles/6706797c104e133a44a9b2cc/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://coinmarketcap.com/community/articles/6706797c104e133a44a9b2cc/","article_id":"2474240822","we_media_id":null,"thumbnails":["https://academy-public.coinmarketcap.com/srd-optimized-uploads/2611fbd13fe64a168debb0f259902343.webp"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474240822","pubTimestamp":1728477563,"sourceInfo":{"source_id":"coinmarketcap_highlight","name":"CoinMarketCap"},"weMediaInfo":null,"summary":"Cathie Wood’s investment firm ARK Invest has made a notable move by purchasing approximately $2.2 million worth of Coinbase  stock.Cathie Wood's ARK Invest Buys $2.2 Million Worth of Coinbase Stock. 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Although COIN closed down 0.73% on the day at $167.69, the ETF now holds approximately $67 million worth of Coinbase shares, accounting for 7.43% of the fund’s total value.\nCoinbase shares have risen about 6.5% since ARK’s last purchase but remain 20% lower since late August. The investment could be a strategic play that anticipates a potential rally fueled by a surge in Bitcoin (BTC) prices that has historically occurred in October.\nContrary to the Coinbase purchase, ARK sold 135,665 shares of Robinhood (HOOD) worth approximately $3.5 million.\nThe sale was likely in compliance with a Securities and Exchange Commission (SEC) regulation that limits funds from having more than 5% exposure to companies that derive more than 15% of their revenue from the sale of securities.\nRobinhood shares rose nearly 10% on Tuesday to close at $25.61.\nCathie Wood’s ARK Invest continues to fine-tune its portfolio, reflecting strategic shifts as it navigates the evolving landscape of the crypto and fintech sectors.\n*This is not investment advice.\n Continue Reading: Investment Company ARK Invest Purchased Coinbase Shares After a Long Break! 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