NewsletterCoinbase (COIN) Stock Rally As Cathie Wood’s Ark Invest Continues Buying Spree In March
Ark Invest, an investment management firm led by Cathie Wood, has added more Coinbase stock to its portfolio of funds, continuing its buying spree in March after massive purchases in February. Coinbase (COIN) shares look attractive after it launched Base, an Ethereum Layer-2 blockchain, and acquired One River Digital Asset Management.
On March 2, Ark Invest purchased a total of 36,492 Coinbase (COIN) shares as the price dipped near $58 again. Cathie Wood’s Ark Invest purchased 31,348 Coinbase stocks for its ARK Innovation ETF (ARKK) and 5,144 Coinbase stocks for ARK Next Generation Internet ETF (ARKW), according to transactions seen by CoinGape.
On March 3, Ark Invest buys a total of 119,543 Coinbase (COIN) shares as the firm acquired One River Digital Asset Management. Cathie Wood’s Ark Invest purchased 103,148 Coinbase shares for its ARK Innovation ETF (ARKK) and 16,395 Coinbase shares for ARK Next Generation Internet ETF (ARKW).
This comes after massive purchases in February amid renewed interest in Coinbase. Ark Invest purchased a total of 722,942 Coinbase (COIN) stocks in February. Cathie Wood’s funds are again rising this month after performing significantly better in January.
Recently, Cathie Wood reiterated her bullish stance on Bitcoin and Ethereum, saying both top cryptocurrencies are “on the right track.” She is also confident about a rebound in Tesla (TSLA) stock, while there’s no purchase of shares in February.
Coinbase (COIN) stock price rallied 8% this week, hitting a high of $66.69. The COIN price ended 1.27% higher at $64.51 on Friday. Meanwhile, the COIN price is trading at $64 in the after-market hours.
Also Read: FTX News: US DOJ Proposes Bail Restrictions For Sam Bankman-Fried
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Do Kwon Faces Up to 12 Years in Prison Over ‘Colossal’ Role in $40B TerraUSD Collaps
- ProShares Drops 3x Bitcoin, Ethereum, XRP ETF Plans After SEC Pushback
- Bitcoin Eyes Fresh Demand as Indiana Advances Bill for Crypto Investments
- Crypto Bill Markup Unlikely This Month Amid DeFi, Stablecoin Yield and Conflict Disputes, Expert Says
- Breaking: U.S. PCE Inflation Rises To 2.8%, Bitcoin Falls
- XRP Price Prediction As Spot ETF Inflows Near $1 Billion: What’s Next?
- Solana Price Outlook: Reversal at Key Support Could Lead to $150 Target
- Is Cardano Price at Risk of a 50% Crash Ahead of the Midnight Launch?
- Is Chainlink Price Headed for $20 as Reserves Pass 1M LINK?
- Ethereum Price Breaks Out of Falling Wedge: Next Target Now Set at $5K
- Is ZCash Price Set for a Bigger Rally After Its 10% Surge on the Bitget Listing?
