Cathie Woodās ARK Invest has been making quite some news these days. The crypto investment firmĀ previously reducing itsĀ Coinbase shares and its revelation ofĀ BitcoinĀ purchase has kept the platform relevant. In more recent news, it was brought to light that ARKās Fintech Innovation Fund [ARKF] expanded its shares of prominent crypto exchange Coinbase.
As per a 13F filing with the Securities and Exchange Commission [SEC], ARK went on to pocket 10,880 shares of Coinbase. This investment marks the firmās very first purchase of Coinbase stocks since June 2022.
Following this, ARK Investās holdings of the stock moved up to $60.5 million. This represents about 8 percent of the fundās weight.
As mentioned earlier, the firm dumped 1.41 million shares of the exchange back in July. This was prompted by theĀ SECāsĀ investigation of the exchange. This led to the community believing that ARK Invest wasnāt very bullish about Coinbase.
In summary, Wood and ARK are still quite optimistic about Coinbase and cryptocurrencies.Ā According to 13F filings, ARK holds 7.7 million shares of COIN and increased its holdings by about 2 million over the course of the previous year. It should be noted that ARK has purchased COIN at a total estimated average cost of $218.45.
At present, Coinbase remains the third-largest holding for ARKF.
ARK Investās Cathie Wood invested $100K in Bitcoin back when it was $250
The crypto-verse has witnessed early investors in Bitcoin bag significant profits over the years. Earlier this week, Cathie WoodĀ revealedĀ that she had purchased $100,000 worth of Bitcoin back when the asset was trading for a mere $250.
She even pointed out that she held it up until now and hasnāt sold it yet. Therefore, her current profits stand at around $7.6 million. At press time, the worldās largest cryptocurrency was trading for $19,329.
Her purchase was reportedly instigated by Satoshi Nakamoto, the creator of Bitcoin.