Key Points:
This is the investment fund’s fourth recent purchase, increasing the balance of its ARK Fintech Innovation ETF (ARKF) by 158,000 shares. Midway through December, Wood made its most recent acquisition, bringing $3.2 million worth of exchange shares onto its balance sheet.
The price of Coinbase’s stock rose about 7% to $34.78 in New York on Thursday. The exchange’s shares have dropped 86% this year due to the severe bear market in cryptocurrencies. COIN has underperformed both ether and bitcoin, with the latter falling by 66% and the former, the name-brand token of the Ethereum network, by 65% year-to-date.
Wood proceeded to show her belief in bitcoin by investing $1.5 million in 176,945 Grayscale’s Bitcoin Trust shares in late November (GBTC). Shares of GBTC are currently selling 48% below the net asset value of one bitcoin.
Digital Currency Group is the owner of Grayscale.
In addition, Wood bought 22,514 shares of Tesla (TSLA) stock for ARK’s Innovation ETF (ARKK), valued at around $2.74 million, according to a trade report email from December 30. Investors’ concerns about high inflation and a potential recession reducing demand for pricey electric vehicles have led to a 69% decline in TSLA this year.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
Coincu News
Bitcoin trading volume has surged to an all-time high of $145 billion in the last…
Italy considers lowering its proposed Italy crypto tax increase to 28% from an initial 42%,…
Bitcoin Spot ETF Inflows Hit $818M as Net Inflow Streak Extends to 5 Days, with…
Elon Musk applies his X (Twitter) management style to politics. His political strategies, including voter…
PayPal stablecoin PYUSD can now transfer seamlessly between Ethereum and Solana via LayerZero.
President-elect Trump plans to establish the Department of Government Efficiency, led by Elon Musk and…
This website uses cookies.