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Cathie Wood Sheds $27M In Coinbase As Stock Soars Amid Bitcoin, Ethereum Reaching For New Highs – Bitcoin – United States Dollar ($BTC)

by Crypto News
November 9, 2021
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Cathie Wood Sheds $27M In Coinbase As Stock Soars Amid Bitcoin, Ethereum Reaching For New Highs – Bitcoin – United States Dollar ($BTC)
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Cathie Wooden’s cash managing agency Ark Make investments bought shares in Coinbase World Inc (NASDAQ:COIN) on Monday as the biggest U.S. cryptocurrency trade’s inventory rallied after a number of crypto costs rose over the weekend. 

Ark Make investments bought 75,910 shares — estimated to be value $26.86 million — in Coinbase by way of two of its energetic exchange-traded funds.

Shares of the cryptocurrency trade, which have been rising over the previous month, closed 5.01% larger at $353.92 a share. The inventory has risen 7.8% to this point this yr.

The inventory opened larger on Monday as the value of Bitcoin (CRYPTO: BTC) and  Ethereum (CRYPTO: ETH) rose over the weekend, with the latter hitting an all-time excessive.

See Additionally: Coinbase Stock Runs Into Earnings As Bitcoin, Ethereum Soar: What’s Next?

The 2 cryptocurrencies hit new milestones on Monday. Bitcoin hit an all-time excessive of $67,673.74 and Ethereum rose to $4,822.36, in response to CoinMarketCap knowledge.

Coinbase is scheduled to announce its third-quarter numbers after the closing bell on Tuesday. 

Ark Make investments bought the shares by way of the Ark Innovation ETF (NYSE:ARKK) and the Ark Subsequent Technology Web ETF (NYSE:ARKW). The Ark Subsequent Technology Web ETF (NYSE:ARKF) too holds shares in Coinbase.

The three ETFs held 5.77 million shares — value $1.94 billion — in Coinbase forward of Monday’s trades.

See Additionally: Cathie Wood Trims Coinbase Stake For 2nd Day In Row As Bitcoin Holds Above $56K

Listed here are among the different key trades for Ark on Monday:

  • Purchased 91,323 shares — estimated to be value $3.47 million — in Robinhood Markets Inc (NASDAQ:HOOD). Shares closed 2.62% larger at $37.98 a share on Monday.
  • Purchased 203,599 shares — estimated to be value $52.91 million — in Zoom Video Communications Inc (NASDAQ:ZM). Shares closed 1.81% decrease at $259.90 a share.

Photograph: Courtesy of Coinbase



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