Cathie Wood’s Ark Goes Long On $COIN As Coinbase Moves Offshore

    Crypto News: ARK Invest, the investment management firm led by Cathie Wood on Tuesday extend its stakes in U.S biggest crypto exchange, Coinbase. The investment firm reportedly bagged another 147K Coinbase (NASDAQ: COIN) shares amid the recent regulatory fight launched by the exchange.

    Also Read: Coinbase Launches Derivatives Exchange With 5X Leverage

    Ark Invests Bags $15.5 Mln Coinbase Shares In 2 days

    According to reports, Cathie Wood’s Ark Investment purchased approx $7.5 million worth of Coinbase shares. While the firm bought around 150,000 COIN on Monday. However, this move comes in when Coinbase Introduced its International Exchange just a day before.

    The U.S. biggest crypto exchange had a tough last month as it received a regulatory warning of a possible lawsuit from the Securities and Exchange Commission (SEC). $COIN price registered a drop of more than 19% over the past 1 month.

    At the press time, NASDAQ: COIN price is up by 2.35% (1.18 pts) to trade at $51.32. However, its after hours price stands at $50.95 down by 0.72% (0.37 pts). The considerable surge comes in after back to back purchases done by the Cathie Wood led Ark Invest. Read More Crypto News Here…

    Also Read: FOMC, ECB: Bitcoin To Face Tough Week Ahead; Here’s Why


    ARK Invest has been on Long on Coinbase since the beginning of 2023. It acquired 304,300 $COIN in April, while it added 2.4 million Coinbase shares in March.

    Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

    The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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