- They bought 305,573 new shares
- The deals totaled $19.9 million
- Two days earlier, Kathy Wood had invested in cheaper Coinbase shares
ARK Invest Daily Trades reported in a letter to investors on new purchases of Block shares. They purchased 305,573 new securities worth $19.9 million. And, between June 7 and 8, the fund repeated purchase orders six times (that is, they bought new shares over and over again).
The Block is now the fourth-largest stake in ARK’s portfolio.. It accounts for 4.81% of all assets.
Remind that the ARK Invest group includes six different funds. Block shares were bought by three divisions. The ARK Innovation ETF (ARKK) acquired 240,174 shares, while the ARK Next Generation Internet (ARKW) acquired 39,099 shares.. ARK Fintech Innovation (ARKF) bought another 26,300 denominations.
Note that ARK Invest made large purchases of Coinbase Global Inc.
The company added 419,324 securities worth $21.6 million on June 6.. The purchases took place on the day when Coinbase quotations fell by more than 20%. As we recall, the market was storming on June 6 due to news of the SEC lawsuit against Coinbase.
Katie Wood (CEO of ARK Invest) said Coinbase has good prospects for the future. She pointed to CEO Brian Armstrong’s desire for regulatory clarity from the U.S.. The businesswoman sees this as a positive factor and a fact that allows for interest in the shares of this exchange.
A short time ago, Ark Invest said that the U.S. risks losing the cryptocurrency race if they do not change their approach to regulation.