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Amid Coinbase (NASDAQ:COIN), which trades as COIN, tumbling about 8% on Thursday, Cathie Wood’s investment manager ARK Invest bought the biggest amount of the stock since the start of 2023.
On March 9, ARK purchased 301,437 Coinbase shares ($17.5 million) for its ARK Innovation exchange-traded fund, known as ARKK, according to an investor notification seen by Cointelegraph. The company has also bought 52,525 Coinbase shares ($3 million) for its ARK Next Generation Internet ETF, referred to as ARKW.
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