ARK’s Fintech Innovation Fund (ARKF) increased its Coinbase (COIN) stock holdings by 10,880 shares, totaling $60.5 million, or approximately 8% of the fund’s weight.
According to 13F filings with the U.S. Securities and Exchange Commission, this would be ARK’s first acquisition of Coinbase stock since June. According to ARK Chief Investment Officer Cathie Wood, the fund cut its Coinbase shares as a result of an SEC investigation into the cryptocurrency exchange.
At the time, Wood referred to the investigation as a “thesis risk” for Coinbase and insisted that ARK would sell 1.1 million COIN shares, which she described as “very little.”
In summary, Wood and ARK are still very bullish on Coinbase and cryptocurrencies in general. According to 13F filings, ARK has 7.7 million shares of COIN and increased its holdings by about 2 million over the last year. Files show that ARK has bought COIN for a total estimated average price of $218.45.
Wood recently claimed on Peter McCormack’s “What Bitcoin Did” that she bought $100,000 worth of bitcoin (BTC) at $250 and hasn’t sold any since. Her own BTC holdings are estimated to be worth $7.6 million at the current market rate.
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