Cathie Wood Doubles Down on Coinbase

Major growth investor Cathie Wood’s Ark Invest he added more than 213,000 shares of Coinbase (COIN). worth about $13 million into its ARK Innovation ( ARRK ) and Next Generation ( ARKW ) exchange-traded funds. The 181,972 shares added to ARKK appear to be Ark Invest’s largest one-time purchase of Coinbase shares this year. Earlier this week, Coinbase reported quarterly earnings that beat expectations, but its shares fell 1.4% on Wednesday as the crypto-asset saw a broad decline. The crypto exchange’s shares are up 82% year-to-date to $61.18, but have fallen from their closing-day peak of $342 in November 2021.