Cathie Wood Strikes Again: ARK Invest Buys $2.2 Million in Coinbase Shares!

The post Cathie Wood Strikes Again: ARK Invest Buys $2.2 Million in Coinbase Shares! appeared first on Coinpedia Fintech News

Cathie Wood’s ARK Invest has made headlines by purchasing nearly $2.2 million worth of Coinbase shares. This marks the firm’s first acquisition of Coinbase stock since September 11. ARK added 12,994 shares to its Fintech Innovation ETF, increasing the fund’s holdings in Coinbase to about $67 million, making up 7.43% of the ETF’s total value. Despite a slight decline of 0.73% in COIN’s closing price at $167.69, the stock has gained approximately 6.5% since ARK’s last buy. As Bitcoin prices often rally in October, ARK could be positioning itself for a potential upswing. In a separate move, ARK also sold off shares of Robinhood to comply with SEC regulations, as HOOD stock saw a nearly 10% rise on Tuesday.