Cathie Wood’s Ark Invest stocks up on more Coinbase, Bullish and Robinhood shares
The Block
Ark Invest purchased significant shares of Coinbase, Bullish, and Robinhood following a market slump on Monday.Summary
Cathie Wood's Ark Invest bought 28,315 Coinbase shares, valued at $7.5 million, for its ARKK ETF on Tuesday as markets recovered from a slump. This follows previous Coinbase purchases, reflecting Ark's strategy of rebalancing fund weightings, aiming to keep any single holding under 10% of a fund's portfolio. As of December 3rd, Coinbase (COIN) was the second-largest holding in ARKK at 5.6% weighting, behind Tesla. Coinbase shares recovered on Tuesday after dropping significantly on Monday amid a broader market slump. Additionally, Ark bought $1.8 million worth of Bullish shares and $245,000 worth of Robinhood shares for its ARKW fund.
(Source：The Block)