On Tuesday, ARK Invest marked its first purchase of Coinbase shares since September 11, acquiring nearly $2.2 million worth, signaling renewed confidence in the crypto exchange's potential.
With ARKF now holding approximately $67 million in COIN stock, equating to a 7.43% weighting of the fund, it demonstrates a significant investment in Coinbase as part of their digital asset strategy.
Despite COIN's recent rise of 6.5% since the last purchase, it still sits 20% lower since late August, suggesting ongoing volatility and ARK's strategic positioning in anticipation of a market rally.
In compliance with regulations, ARK sold off shares of Robinhood, which closed up nearly 10% at $25.61, highlighting the firm's active management strategy in a fluctuating market.
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