BusinessARK buys $110 mln Coinbase shares, adding to positions

Reuters
2 minute read

The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. REUTERS/Shannon Stapleton

Celebrity stockpicker Cathie Woods' ARK funds bought more shares of Coinbase (COIN.O) worth $110 million a day after the cryptocurrency exchange's Nasdaq debut, according to the firm's daily trade summary on Thursday.

ARK, which gained prominence last year among retail investors, on Thursday bought a total of 341,186 shares across three funds, valued at $110 million at Thursday's $322.75 close.

That added to 749,205 purchased according to its Wednesday alert, or $245.9 million at Wednesday's $328.28 close.

The funds added to were its flagship ARK Innovation fund Ark Innovation ETF (ARKK.P), its Next Generation Internet ETF (ARKW.P) and Fintech Innovation ETF (ARKF.P).

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