Employees of Coinbase Global Inc., the largest cryptocurrency exchange in the US, are watching their display on the Nasdaq MarketSite jumbotron at Times Square in New York, USA, April 14, 2021. REUTERS / Shannon Stapleton / File Photo
Cathie Wood’s ARK funds bought several cryptocurrency exchanges Coinbase Global Inc (COIN.O) on Friday, while selling shares of electric vehicle manufacturer Tesla (TSLA.O), according to the company’s daily summary.
ARK bought 187,078 shares of Coinbase on Friday, which debuted on the Nasdaq earlier this week in a nearly $ 64 million acquisition at the closing price of $ 342.
It sold 134,541 Tesla shares, valued at $ 99.5 million at the close on Friday. Tesla is still by far the largest position of the company, in terms of value, on its major funds.
The funds added were the ARK Innovation flagship fund (ARKK.P), the next generation ETF (ARKW.P) and the Fintech Innovation ETF (ARKF.P).
Coinbase acquisitions add to the 341,186 shares bought on Thursday and 749,205 bought on Wednesday. Read more
ARK sold Tesla shares in its flagship fund and its next-generation ETF.
Coinbase betting offers ARK more indirect exposure to cryptocurrencies, in addition to its large bets on the Tesla market, which recently invested in bitcoin and said it would accept cryptocurrency as payment for its cars.
Famous fund manager Wood gained prominence among retail investors last year and managed to attract a steady pile of cash into her hot funds.
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