May 18, 2022
Cathie Wood's Ark Invest Grabs More Than Half a Million Coinbase Shares as Exchange's Stock Plummets
Shares of Coinbase Global (COIN) plunged 26.4% in post-market trading on Wednesday, after reporting disappointing first-quarter earnings.

Greg Ahlstrand

Greg Ahlstrand is CoinDesk's Asia News Editor. Greg has no significant crypto holdings.

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Three funds of Cathie Wood’s ARK Investment Management bought a combined total of 546,579 shares of Coinbase Global (COIN), Ark said in an email on Thursday. Coinbase shares were down 26.4% to $52.35 in post-market trading on Wednesday.

  • ARK Innovation ETF, or AARK, bought 360,855 Coinbase shares, 0.252% of the fund’s investments.
  • ARK Next Generation Internet ETF, or ARKW, bought 62,602 shares, making Coinbase 0.2397% of the fund’s investment.
  • ARK Fintech Innovation ETF, or ARKF, bought 123,122 Coinbase shares, comprising 0.7747% of the fund’s investment.

Read More: Coinbase Has No Risk of Bankruptcy, New 10-Q Disclosure Language Is SEC Requirement, CEO Armstrong Says

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