Cathie Wood’s Ark Investment Management took advantage of the Cathie Wood $ 5.4 trillion US equities market sell-off And bought more than 83,000 Coinbase (coins) shares, increasing crypto exchange exposure even though prices are sinking throughout the board.
The total shares the purchased costs more than $ 13 million, taking Friday’s closing price for Coinbase.
According to the day -to -day announcement of Ark for April 4, the flagship of Ark Innovation ETF (Arkk) bought nearly 55,000 Coinbase shares, with additional purchases from the Ark Next Generation Internet ETF (ARKW) and the Ark FinTech Innovation ETF (ARCF).
The timing is noticeable. Coinbase shares slip over 12% on the market route, while Bitcoin and other cryptocurrencies have shown stability. CoinDesk 20 (CD20) index drops 5.8% at the same time. The seller-off arrived after US president Donald Trump opened his rewards tariffs against almost every country in the world.
Read more: Bitcoin’s deduction begins from Nasdaq while US stocks collapsed
