Cathie Wood's ARK adds $12.1M in Coinbase shares amid turbulent markets

Cathie Wood’s ARK adds $12.1M in Coinbase shares amid turbulent markets

Amid the FTX and crypto market chaos, Cathie Wood-led Ark Investments has increased its Coinbase (COIN) holdings with a purchase of 237,675 COIN shares worth about $12.1 million on Nov. 9. 

Of the 237,675 COIN shares, Ark Investment Management added 207,527 shares to its ARK Innovation ETF (ARKK), 22,416 shares to its ARK Next Generation Internet ETF (ARKW), and another 7,732 shares to its ARK Fintech Innovation ETF (ARKF).

The tech-focused investment firm’s purchase came after Coinbase stated in response to FTX’s liquidity crisis that it has “minimal exposure” to the now cash-strapped cryptocurrency trading platform with only $15 million on deposit to “facilitate business operations and customer trades.”

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Coinbase also added that it has no exposure to FTX’s native token FTT — which has fallen 84.08% since

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