Cathie Wood buys surging crypto stock ahead of Thanksgiving
Cathie Wood’s ARK Invest has boosted its exposure to crypto-linked equities.
ARK bought $16.5 million worth of Coinbase (NASDAQ: COIN) on Nov. 26.
The Coinbase buy follows a series of recent allocations into both crypto and tech names.
ARK spreads COIN purchase across three ETFs
The last time the firm acquired a comparable amount was on Aug. 1, marking a notable uptick in its acquisition strategy.
This also makes it the largest purchase of Coinbase stock in nearly four months.
The investment manager acquired 62,166 shares of Coinbase worth $16.5 million across three of its exchange-traded funds: the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Blockchain & Fintech Innovation ETF (ARKF).
At the time…
