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July 1, 2022
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ARK Invest invests in Coinbase –

Three exchange-traded funds offered by ARK Invest led by Cathie Wood, bought jointly, 749,205 shares of Coinbase Global, Inc (COIN) with a total value of approximately USD 246 million.

ARK Invest invests in Coinbase

ARK Innovation ETF (ARKK) currently owns 512,535 COIN shares, while ARK Next Generation Internet ETF (ARKW) bought a further 147,081 units and ARK Fintech Innovation ETF (ARKF) 89,589.

ARK funds were not the only ETFs collecting COIN. ETF Amplify Transformational Data Sharing (BLOCK) has also started working in this field. It is worth adding that BLOK is one of the most active ETFs on the cryptocurrency market, with 7 of the 10 largest allocations in the blockchain industry and accounting for a third of its entire portfolio.

Coinbase on the stock exchange

The long-awaited entry to the Coinbase exchange took place on April 14. COIN debuted on the Nasdaq platform at $ 381. The shares rose rapidly by 12.5% ​​- to $ 429.54 – for a total valuation in excess of $ 112 billion. After that, the COIN dropped to find support at around $ 315.

ARK was founded by fund manager Cathie Wood in 2014 and has already amassed over $ 50 million in assets. ARKW has grown by 161% over the last year, ARKK by 152% and ARKF by 138%.

Earlier this month, ARK analysts predicted that the market price of Bitcoin would exceed that of gold.

According to many, entering the COIN exchange is a breakthrough for the cryptocurrency market. Coinbase itself is an American company that operates a cryptocurrency exchange platform that works remotely first, without an official physical seat. Today the latter is located in San Francisco. The company officially began operations on June 20, 2012. From the very beginning, Brian Armstrong has been the company’s president.

According to published data, Coinbase generated revenues of $ 1.8 billion in the first quarter of 2021. In addition, the company had 6.1 million monthly transacting users (MTUs) in the quarter. This is approximately 117% increase over the previous 3 months. It also means that there have been 3.3 million new users since the end of 2020. We wrote more about it here on our website.

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