Home > NEWS > Cathie Wood's ARK Buys $9.2M Coinbase Shares First Time in Almost a Month

Cathie Wood's ARK Buys $9.2M Coinbase Shares First Time in Almost a Month

COIN is down 20% during the last week after a record-breaking rally in January, when it rose nearly 95%.

After a break of nearly a month, Nienfeld started buying Coinbase shares for her company's exchange traded stock fund (ETF) from scratch, and Ark announced that the company bought 162325 shares of Coinbase on Friday.

The last time the Ark bought coins was in mid-to-late January, when it bought exchange shares worth $3.3 million.

The $9.2 million recovery comes at a time when US regulators have stepped up inspections of the digital currency industry. Although the Securities and Exchange Commission (SEC) did not track down Coinbase's bets as it did with Kraken, there are still doubts about whether it will track Coinbase's bets in the second Blitzkrieg.

Paxos is the latest overall goal of SEC's enforcement action against its Binance dollar tokens, according to an article in the Wall Street Journal earlier Monday.

Ark's independent innovation ETF has increased by 28% so far this year, while Ark's financial technology innovation ETF has increased by 25% so far this year.

by wjb news
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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