Ark Invest Doubles Down on Coinbase Shares Amid Market Downturn

Cathie Wood’s Ark Invest has made another significant investment in Coinbase, purchasing $13.3 million worth of shares during a global market slump. This follows a previous acquisition in February, signaling strong confidence in the crypto exchange’s long-term prospects.

Ark Invest Buys Coinbase Shares Amid Market Discount

Cathie Wood’s asset management firm Ark Invest disclosed purchasing a fresh batch of 84,514 Coinbase shares worth approximately $13.3 million on April 7. This acquisition occurred during a global market downturn. In February, Ark Invest had already acquired 41,032 shares of Coinbase for its Next Generation Internet ETF (ARKW), valued at $8.7 million. Several crypto analysts have described these moves as strategic.

SEC Crypto Roundtable: Former Rivals Coinbase, Cumberland, and Uniswap to Attend

The US Securities and Exchange Commission (SEC) will hold its second crypto roundtable on April 11, discussing regulation for crypto trading with representatives from Coinbase, Uniswap Labs, and Cumberland DRW. The event, titled “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading”, will take place at the SEC’s Washington, D.C. headquarters. Key panelists include Gregory Tusar from Coinbase, Katherine Minarik from Uniswap Labs, and Chelsea Pizzola from Cumberland DRW.