Cathie Wood’s ARK Invest buys nearly $6 million in COIN, sells Silvergate stock

Cathie Wood’s Ark Invest won another $5.8 million in Coinbase (COIN) shares on Thursday, as she continue to show confidence in a cryptocurrency exchange even if its share price falls. It closed down 11% on Thursday at $33.53. It has fallen by almost 90% by 2022.

ARK’s ARKW Fund, or ARK Internet Next Generation ETF, purchased 27,813 COIN shares, and ARKF, or ARK Fintech Innovation EFT, purchased 144,463 shares.

The company is less optimistic about Silvergate Capital (SI), which has shares fell 43% on Thursday after the crypto bank said it was reducing its headcount by 40% and removing $196 million related to Diem Association’s acquisition of technology and assets from Facebook’s parent Meta Platform (META). ARKF sold over 400,000 shares, worth about $5 million based on the closing price of the day.

Read more: Cathie Wood’s ARK Continues to Buy Coinbase Drop, Adds $3.2 Million COIN to Portfolio

UPDATE (Jan 6, 08:42 UTC): Add Silvergate to title, last paragraph; rounding Coinbase investment value.


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