Cathie Wood's Ark funds bought $246 million Coinbase shares
Reuters2021-04-15
LONDON, April 15 (Reuters) - Cathie Wood's Ark funds bought $246 million worth of Coinbase shares on the cryptocurrency exchange's Nasdaq debut on Wednesday, according to the firm's daily trade summary.
A chunky $168 million Coinbase shares were added to its flagship ARK Innovation fund, the remaining went into its next generation and fintech innovation funds.
The celebrity fund manager gained prominence last year among retail investors and managed to attract a steady pile of cash into her red-hot funds. The ARK Innovation fund saw assets under management rise from $1.86 billion at the end of 2019 to nearly $22 billion as of March.
Coinbase shares rose 52% on its debut on Nasdaq.
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.
