ARK Fintech Innovation ETF Expanding Its Holdings on Coinbase

ARK Fintech Innovation ETF Is Expanding Its Holdings on Coinbase
  • 10,880 Coinbase shares have been added to ARKF’s holdings.
  • ARK owns 7.7M COIN shares & added about 2M shares to its holdings in the last year.

ARK Fintech Innovation, a leading exchange-traded fund (ETF) is increasing its holdings on the Coinbase trading platform. According to recent reports, ARK Invest’s Fintech Innovation Fund (ARKF) has added 10,880 shares of Coinbase exchange to its holdings, bringing its total holdings to $60.5 million, or roughly 8% of the fund’s weight.

As per 13F filings with the Securities and Exchange Commission (SEC), this would be ARK’s first acquisition of Coinbase stock since June.

ARK’s Hold on Coinbase

The 13F filings show that ARK owns 7.7 million shares of COIN and added approximately 2 million shares to its holdings over the last year. According to filings, ARK paid an estimated average price of $218.45 for all of its COIN purchases.

Cathie Wood, the chief investment officer at ARK, stated in August that, due to an SEC investigation into the cryptocurrency exchange, the fund has cut its holdings in Coinbase. At the time, Wood referred to the investigation as a “thesis risk” to Coinbase and insisted that ARK would sell 1.1 million COIN shares, which she described as “very little.”

Furtherly, Wood recently claimed that she bought $100,000 worth of Bitcoin (BTC) at a $250 price and has not sold any since. At current market prices, her personal BTC holdings are estimated to be worth $7.6 million.

The ARK Fintech Innovation ETF (ARKF) is an actively managed fund managed by ARK Invest, headed by Catherine Wood. Currently, the shares of ARK Fintech Innovation ETF stock opened at $15.40. ARKF has a one-year low of $14.19 and a high of $54.68.

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