The Ark Investment Management of Cathie Wood benefited from the sale of $ 5.4 billions of US stock market and bought more than 83,000 Coinbase shares (Coin), increasing the exposure to the Crypto exchange, even if prices have plunged in all areas.
The total of the stocks purchased was worth more than $ 13 million, taking the fence of Friday for Coinbase.
According to the daily disclosure of ARK trading for April 4, the Wood of Wood (ARKK) FNB Fhaship Innovation (ARKK) bought nearly 55,000 Coinbase shares, with additional purchases from the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF).
The timing is notable. Coinbase shares have slipped more than 12% during market rout, while Bitcoin and other cryptocurrencies have shown resilience. The Coindesk 20 index (CD20) fell 5.8% during the same period. The sale took place after US President Donald Trump unveiled his reciprocal prices against almost all countries in the world.
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