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News Explorer — Cathie Wood's Ark Invest Doubles Down on Coinbase With $21.6M COIN Buy

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Jun 7, 6:57 am
Coindesk

Cathie Wood's Ark Invest Doubles Down on Coinbase With $21.6M COIN Buy

Ark Investment Management, the second-largest holder of Coinbase Global (COIN) stock, increased its investment in the crypto exchange after a lawsuit by the U.S. SEC sent its share price tumbling. Ark bought 419,324 shares of Coinbase, worth around $21.6 million, split across three ETFs. The purchase took Ark’s total Coinbase holdings to 11.44 million shares, valuing its position at around $590 million.

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