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Home Crypto Exchanges

Cathie Wood’s ARK Invest Scoops Up Coinbase, Block Shares for Consecutive Days

Hania by Hania
March 27, 2023
in Crypto Exchanges
Reading Time: 1 min read
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ARK Invest Purchased Coinbase Shares On The Exact Same Day SEC Files Lawsuit
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On Thursday and Friday of last week, Cathy Wood’s fund purchased COIN and SQ after Coinbase dropped following the issuance of a Wells Notice and Block fell because of a short-sellers report.

After Coinbase (COIN) got a Wells Notice from the U.S. Securities and Exchange Commission (SEC) on March 22, which caused COIN to drop 16% the following day, Cathy Wood’s ARK Invest bought $12.6 million worth of shares of the cryptocurrency exchange on Friday. This was the fund’s second straight day of purchasing COIN stock. On Friday, the shares increased 1.5% to $67.83 per share.

Cathie Wood and Ark Invest's trade activity from today 3/23 pic.twitter.com/yyubxTegZj

— Ark Invest Daily (@ArkkDaily) March 24, 2023

155,833 shares flowed to ARK Innovation EFT (ARKK), and 26,395 shares flowed to ARK Next Generation Internet EFT (ARKW), according to an email sent on Friday night, U.S. time.

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A total of $18.1 million worth of Block (SQ) shares were also purchased by ARK on Friday, the fund’s second day of purchases following the stock’s 17% decline on March 23 as a result of a negative report by a short seller named Hindenburg Research. 

Tags: ARK Innovation EFTcrypto newsStaking
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Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

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