COIN

<a href="https://bitcoinworld.co.in/cathie-woods-ark-invest-buys-coinbase-shares-again/" title="Cathie Wood’s Ark Invest Buys Coinbase Shares Again" rel="noopener noreferrer nofollow"></a>
<a href="https://www.ark-invest.com/" rel="noopener noreferrer nofollow">Ark Invest</a> bought another 19,892 shares of Coinbase worth $3.9 million through three of its exchange-traded funds on Tuesday, continuing to rebalance its funds’ holdings after Monday’s market plunge.
The Cathie Wood-led investment firm bought 13,833 shares worth $2.7 million for its ARKK ETF, 2,743 shares ($533,000) through its ARKW ETF and 3,316 shares $644,000 for its ARKF, according to the company’s latest trading documents.
The latest acquisitions follow another Coinbase stock purchase valued at $17.8 million that Ark purchased for the same funds on Monday.
Ark’s investment strategy includes the idea that no single position should take up more than 10% of an ETF’s portfolio.&nbsp;
The idea behind these actions is to maintain diversification within the funds, which means Ark will likely continue to rebalance COIN’s stake if stocks rise or fall significantly relative to Ark’s other fund holdings.
COIN is now reportedly the third-largest stock within the ARKK ETF with an 8.7% stake, worth $445.3 million as of Aug. 6.&nbsp;
COIN is the fourth-largest holding in its ARKW ETF with 6.8% ($84.4 million). Coinbase shares also represent the company’s largest stake in its ARKF fund with 9.8%, worth $75.1 million.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Cathie Wood’s Ark Invest Buys Coinbase Shares Again

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