Cathie Wood’s Ark Invest added 162,325 shares of Coinbase ($9,267,134.25) to its portfolio on Friday. Along with the purchase of 263,504 shares of Robinhood stock ($2,629,769.92 value).
The collapse in the stock price of crypto exchange Coinbase on Friday appeared to be driven by concerns that US regulators will limit crypto staking to retail investors.
Ark Invest has several stocks owned by the company. has dropped to its lowest level in recent months. With investments in both Coinbase and Greyscale Bitcoin Trust putting a heavy burden on the portfolio.
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