ARK Invest’s Cathie Wood invests a major sum in Coinbase.
ARK Invest is an institution that is truly optimistic about the crypto market and its emergence. Since, the rise of crypto currencies in the globe, vividly in US, ARK Invest has been actively participating in the crypto market and has been playing an influential factor in the dynamic nature of the market.
On Thursday, ARK Invests CEO, Cathie Wood made another historic trade of the cryptocurrency. This time, ARK Invests invest in the largest crypto currency exchange in the American Market. Coinbase sold its 546,579 shares at $2.9million. The shares were purchased in three different funds.
The listing of different funds for ARK are:
- ARK Innovation Exchange Traded Fund (ETF) – 360,855 Coinbase shares.
- ARK Next Generation ETF – 62,602 Coinbase shares.
- ARK Fintech Innovation ETF – 123,122
As one of the renowned business man once quoted – “In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” Mark Zuckerberg – CEO of META.
Seizing the opportunity!
As soon as the shares of Coinbase fell by 26% to $53.72 on Wednesday, ARK Invests seized the opportunity and bought the shares at a lower cost. The risk involved here is the volatile nature of the crypto market and also the downward trend of the shares of Coinbase. But as quoted above, risk taking is the only strategy that has the high probability of giving expected results in crypto market.
Cathie wood working to uplift the crypto market.
Cathie Wood firmly believes that crypto market has a great potential and can make a revolutionary change in the financial market all around the globe. From her company’s recent investment, it is quite evident that Cathie Wood is placing her bets on crypto currencies big time! She is willing to take the risks and make changes in her institution to facilitate the cryptocurrencies. While she purchased shares of Coinbase, she unloaded 455,972 shares of a digital entertainment company SEA and also dumped 83,940 shares in ARK Next Generation ETF of electronics provider Nano Dimension. ARK Genomic also sold 74,830 shares of Editas Medicine, a biotechnology company.
Will her decisions be fruitful?
While Cathie Wood is taking bold steps to up the crypto market and attract a lot of investors by investing in crypto heavily, her plan of selling off existing shares in the company from varied field may or may not be fruitful. If the crypto market survives the low and makes it to the top, then her judgement of market can be considered accurate and if the market fails then her judgement also goes down the vein.