Employees of Coinbase Global Inc., the largest cryptocurrency exchange in the United States, see their listing displayed on the Nasdaq MarketSite jumbotron in Times Square in New York, USA, on April 14, 2021. REUTERS / Shannon Stapleton / Photo file
Cathie Wood’s ARK funds bought more shares of cryptocurrency exchange Coinbase Global Inc (COIN.O) on Friday while selling shares of electric vehicle maker Tesla (TSLA.O), according to the firm’s daily trading summary.
ARK on Friday bought 187,078 shares of Coinbase, which debuted on the Nasdaq earlier this week, in a purchase worth nearly $ 64 million at the closing price of the day of $ 342.
It sold 134,541 shares of Tesla, valued at $ 99.5 million at the close on Friday. Tesla remains by far the company’s largest position by value in its core funds.
The funds added were the ARK Innovation flagship fund (ARKK.P), the next generation Internet ETF (ARKW.P) and the Fintech Innovation ETF (ARKF.P).
Coinbase purchases add up to 341,186 shares bought on Thursday and 749,205 bought on Wednesday. Read more
ARK sold the shares of Tesla from its flagship fund and its next-generation Internet ETF.
The bet on Coinbase gives ARK an indirect exposure to cryptocurrencies, in addition to its big bets like Tesla, which recently invested in bitcoin and said it would accept cryptocurrency as payment for its cars.
Wood, the celebrity fund manager, gained prominence last year among retail investors and managed to attract a steady pile of cash to its burning funds.
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