Ark Invest loads up on Coinbase as Cathie Wood predicts ‘real break’ in inflation
The Block
Ark Invest purchased significant Coinbase shares while Cathie Wood anticipates a major drop in inflation soon.Summary
Cathie Wood's Ark Invest continued its recent accumulation of crypto-related stocks by buying $16.47 million worth of Coinbase shares across its ARKK, ARKW, and ARKF ETFs on Wednesday. Coinbase is now the fifth-largest holding in the ARK Innovation ETF (ARKK). Concurrently, Cathie Wood predicted a "real break" in inflation, citing expectations that the Federal Reserve will end quantitative tightening in December, government shutdown uncertainty will resolve, and another rate cut may occur next month. Wood believes deflationary undercurrents from new technologies are building, suggesting the current liquidity squeeze pressuring crypto and AI sectors will temporarily reverse.
(Source：The Block)