#CryptoNews: Ark Invest adds to Coinbase again!

Ark Invest bought 53,708 shares of Coinbase on Wednesday, worth $8.4 million, amid a post-US presidential debate crypto market decline. This is the first time it has bought or sold Coinbase shares since early August.

Specifically, Ark bought these shares through its three ETFs: 38,475 shares of the Innovation ETF (ARKK), 9,349 shares of the Next Generation Internet ETF (ARKW), and 5,884 shares of the Fintech Innovation ETF (ARKF).

Ark's investment strategy is to keep a single position no more than 10% of the ETF portfolio to ensure diversification. According to the latest disclosure, COIN is now the fourth largest holding in the ARKK ETF, with a weight of 6.5%, or about $355 million.

What do you think of Ark's operation this time? Welcome to discuss in the comments section!