Cathie Wood’s ARK Investment Management LLC bought an additional 237,675 Coinbase shares on Nov. 10, 2022, as Coinbase’s share price rose 12%.
ARK’s funds had bought 421,000 shares on Nov. 10, 2022, even as the price of Coinbase shares fell 10.8% on Nov. 9, 2022, and 2.5% in pre-market trading on Nov. 10, 2022. Still, the fund’s investment is in the green since the purchase.
Wood’s mostly unsuccessful crypto investments
Wood’s ARK Innovation Exchange-Traded Fund (ARKK), Ark Fintech Innovation ETF (ARKF), and ARK Next Generation Internet ETF (ARKW) altogether added $33 million in Coinbase shares in the last week. An exchange-traded fund is an investment fund listed on a stock exchange and offers exposure to multiple indices, stocks, currencies, or commodities.
Wood has been a long-time Bitcoin advocate and purchased $100,000 worth of BTC when the price was $250 million.
At the time, her ARK investment funds…
