Cathie Wood's Ark Invest scoops up $5.5 million of Coinbase stock as crypto market turmoil weighs on the exchange

Dec 30 2022 by Business Insider

 
Cathie Wood.

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Cathie Wood's Ark Invest purchased $5.5 million worth of Coinbase shares this week. The famed money manager now holds $47 million worth of the company's stock in its Ark Fintech Innovation ETF. ARKF is down 68% year-to-date, and Coinbase is down 86%.

Cathie Wood's Ark Invest purchased $5.5 million worth of additional Coinbase shares on Thursday, continuing the investment firm's dip-buying spree as turmoil weighs on the cryptocurrency platform.

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