Cathie Wood Boosts Coinbase Stake as Shares Rally 3.9%
COIN•On July 3, Ark Invest purchased additional Coinbase shares as the stock surged 3.92%. The move coincided with a 1.82% gain in Bitcoin, highlighting renewed institutional confidence in crypto.
1. Increased Coinbase Purchases
On July 3, Ark Invest acquired more shares of Coinbase, reflecting Cathie Wood’s strategy to buy the dip in crypto-related equities. This acquisition augmented Ark’s weighting in COIN within its flagship ETF.
2. Stock and Crypto Performance
Coinbase shares jumped 3.92% during the session, while Bitcoin climbed 1.82%, reinforcing the positive market reaction to Ark’s buying activity. Other crypto-linked names also saw gains, underlining a broader rebound.
3. Strategic Implications
The transaction underscores Ark Invest’s confidence in a crypto market recovery at the start of the third quarter. Such high-profile buying may prompt additional institutional interest in digital-asset stocks.
