Cathie Wood’s Ark Invest critical parameter on Coinbase in the midst of a fear-driven price decline

Ark Invest acquired 162,325 Coinbase shares and 263,504 Robinhood shares to its portfolio Friday.

On Friday, Ark Invest made significant purchases of both Coinbase and Robinhood shares, bringing the total value of its holdings to $9,267,134.25 and $2,629,769.92 respectively. The company also added a huge 162,325 Coinbase shares to its portfolio.

An email containing a trade notice was used to distribute the information about the acquisitions. Ark Invest, which is run by Cathie Wood and has been relatively quiet in recent weeks, is known to have purchased Coinbase stock in the past (and sometimes sold it as well). Still, it would appear that Friday’s fall in the crypto exchange’s stock price — prompted by fears that U.S. authorities may ban crypto staking — proved too appealing to pass up.

Ark Invest was a darling of the investment wave that occurred during the pandemic period, but it has suffered in the post-Covid age. Many of the equities it holds have reached lows in recent months, as investments in both Coinbase and the controversial Grayscale Bitcoin Trust have weighed hard on its portfolio.

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