ARK snaps up $246 million worth of Coinbase in market debut
Dow Jones2021-04-15
ARK Invest bought cryptocurrency exchange Coinbase $(COIN)$, which went public on Wednesday, for three of the ARK exchange-traded funds, including the flagship ARK Innovation ETF (ARKW).
ARK Invest bought Coinbase stock valued at $246 million for the ARK Innovation ETF, ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF). ARK Invest CEO Cathie Wood spoke of Coinbase's potential, as well as volatility, in an interview with Bloomberg BNN on Wednesday on Wednesday, though the electric vehicle maker is still the top holding of the ARK Innovation ETF and the ARK Next Generation Internet ETF.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
