Cathie Wood Bought Coinbase Shares Amid FTX Crisis

ARK Investment Management LLC founded and runs by Cathid Wood purchased 420,949 shares of Coinbase stock. Worth $21.4 million at the average price of $51 per share.

Coinbase price reach new low on November 9, 2022 at $45.61 per share. However, the price rebound to $50.92 a share on November 11, 2022.

Most of the purchase, 330,000 shares went to flagship ETF Ark Innovation ETF (ARKK). The rest went to ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF).

FTT token plunged 80% from November 4, 2022 - November 11, 2022. FTX and Alameda Reseach debt from collateral and liquity problem has caused cryptocurrency market in turbulence. 

Cathie Wood is a big believer in blockchain technology. ARK Invest main focus is disruptive innovation.

ARKK Holdings (As of November 11, 2022)

1.   ZOOM VIDEO COMMUNICATIONS-A 9.61%

2.  TESLA INC 8.45%

3.  EXACT SCIENCE CORP 7.04%

4.  ROKU INC 6.95%

5.  BLOCK INC 5.35%%

6. INTELLIA THERAPEUTICS INC 4.91%

7.  TELEDOC HEALTH INC 4.69%

8.  UIPATH INC - CLASS A 4.46%

9.  CRISPR THERAPEUTICS AG 4.24%

10. SHOPIFY INC - CLASS A 4.18%

References

-https://www.coindesk.com/business/2022/11/10/cathie-woods-ark-buys-238k-more-shares-in-coinbase-exchange-amid-crypto-rout/

-https://cryptonews.com/news/cathie-woods-ark-invest-buys-21-million-worth-of-coinbase-shares-what-do-they-know.htm

-https://decrypt.co/113980/cathie-woods-ark-invest-scoops-up-another-21-4m-coinbase-stock