Cathie Wood's Ark Invest scoops up $1.45 million of Coinbase stock as the crypto exchange pops 25% in the past five days
Cathie Wood's Ark Investment Management is on a Coinbase buying spree, scooping up more of the crypto exchange's shares amid a lengthy bear market for digital assets.
The famed money manager on Tuesday added 33,756 shares to ARK's Innovation ETF , worth around $1.45 million based on the last closing price.Ark Invest added a total of 296,578 Coinbase shares to the firm's exchange-traded funds. That followed the purchase of 78,992 shares in the week prior to that. Wood's fund is one Coinbase's biggest shareholders, with a 4.3% stake in the company as of late September, according to data from Bloomberg.
Meanwhile, COIN is up nearly 25% in the past five days, trading at $43.23 on Wednesday. Coinbase stock
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