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Cathie Wood’s Ark Continues Its Coinbase and Block Buying Spree

2023-03-28 17:38:11 Share

Cathie Wood's Ark Invest continued to purchase shares in crypto exchange Coinbase and payments firm Block on Monday. The firm purchased 32,378 shares in Coinbase for the Ark Innovation ETF, as well as 5,347 shares for its Next Generation Internet ETF, following its acquisition of more than 182,000 shares on Friday. Meanwhile, Ark's Fintech Innovation fund purchased 18,555 shares in Block, following a purchase of more than 288,000 shares across three of its funds on Friday. This indicates Wood's conviction in the two companies, which have faced negative headlines recently. Coinbase received a Wells notice from the SEC, while Block faces accusations from short seller Hindenburg Research.
(By Frank Chaparro)