According to "The Block", during the market decline after the US presidential election debate, ARK Invest, an asset management company led by Cathie Wood, bought 53,708 shares of the cryptocurrency exchange Coinbase through its three funds. The total value is $8.4 million.
According to the latest transaction documents, "ARK Innovation Active ETF" (ARKK) bought 38,475 shares of COIN, valued at US$6 million; "ARK Select Generation Internet of Things Active ETF" (ARKW) bought 9,349 shares, valued at US$1.5 million; "ARK Fintech Innovation Active ETF" (ARKF) bought 5,884 shares worth $925,000.
The last time Ark Investments bought Coinbase stock was during the market rout in early August, when its funds bought about $21.8 million worth of Coinbase stock.
According to information disclosed by the company, as of September 12, COIN’s current weights in three funds, including ARKK, ARKW and ARKF, are 6.5%, 5.1% and 7.3% respectively, with values of approximately US$355 million, US$67 million and $60 million.
In an interview with "The Block", Bitfinex analysts said that Tuesday night's U.S. presidential election debate turned into a "Sell-the-news" event, triggering risk aversion in the cryptocurrency market because the market generally believes that Trump (Donald Trump) Trump's performance against Kamala Harris was not impressive.
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