Cathie Wood continued to be upbeat about the cryptocurrency exchange platform, Coinbase Global (NASDAQ: COIN) even as the SEC decided to sue the company on Tuesday. COIN fell by more than 12% on Tuesday to close at $51.61.
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New trading tool for ARKK bulls/bearsOn Tuesday, ARK added more than 400,000 shares of Coinbase worth $21 million. The flagship Ark Innovation ETF (ARKK) added 329,773 shares of Coinbase worth $17 million and now represents 0.21% of the fund. Ark’s Next-Generation Internet ETF (ARKW) and the Fintech Innovation ETF (ARKF) added 53,885 and 35,666 shares, respectively, worth more than $4 million in total.
Year-to-date, ARK Innovation ETF (ARKK) has surged by more than 35%.