Ark Investment Management Increases Coinbase Holdings to 1.5M Shares

Three ARK funds also sold a combined 233,147 shares in Nvidia worth around $13.4 million.

Apr 22, 2021 at 10:35 a.m. UTC

Updated Sep 14, 2021 at 12:45 p.m. UTC

Cathie Wood, CEO of ARK Investment Management — Cathie Wood, CEO of Ark Investment Management

New York-based Ark Investment Management has once again significantly increased its holdings of Coinbase's (COIN) shares following the exchange’s debut on Nasdaq last week.

Bitcoin bull Cathie Wood's firm purchased another 244,717 COIN Wednesday worth an estimated $76.3 million.
The shares were split between 195,108 bought by the Ark Innovation ETF (ARKK) and 52,609 by the ARK Next Generation Internet ETF (ARKW).
Three ARK funds also sold a combined 21856 shares in Nvidia worth around $13.4 million. NVIDIA is a major graphics card manufacturer and its products are often used for crypto mining.
The company’s funds initially purchased 749,205 COIN shares worth around $246 million on its first day of trading on April 14 followed by another 341,186 (~$110 million) on April 15.
On Wednesday, the company followed its purchases with another 236,348 shares bringing the total amount of shares bought to 1,571,456.
COIN fell 2.77% Wednesday to $311.92.

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