TradingKey – Year-to-date, Coinbase ( COIN) stock has been sluggish, falling more than 28% cumulatively. Unlike most retail investors who are panic selling, Cathie Wood’s ARK Invest has been buying against the trend, and has significantly scaled up its purchases recently.
Cathie Wood Buys Coinbase Shares at Low Prices
On June 17, Cathie Wood’s Ark Invest once again increased its stake in Coinbase. According to disclosure data, ARK acquired a combined total of over 111,000 Coinbase shares through its three flagship ETFs for a total investment of approximately $19 million. This volume far exceeded any other single purchase in the first quarter.
In early March, Ark Invest purchased approximately 22,000 Coinbase shares worth about $4 million…
