(Reuters) – Ark funds, managed by celebrity stockpicker Cathie Wood, bought shares of Coinbase worth $110 million, a day after the cryptocurrency exchange’s Nasdaq debut, according to the firm’s daily trade summary on Thursday.
ARK, which gained prominence https://www.reuters.com/technology/cathie-woods-ark-funds-bought-246-million-coinbase-shares-2021-04-15 last year among retail investors, on Thursday bought a total of 341,186 shares across three funds at Thursday’s $322.75 close.
That added to 749,205 purchased https://www.reuters.com/technology/cathie-woods-ark-funds-bought-246-million-coinbase-shares-2021-04-15 according to its Wednesday alert, or $245.9 million at Wednesday’s $328.28 close.
The funds added to were its flagship ARK Innovation fund Ark Innovation ETF, its Next Generation Internet ETF and Fintech Innovation ETF.
(Reporting by Megan Davies and Vidya Ranganathan; additional reporting by Thyagaraju Adinarayan; Editing by Shailesh Kuber)
