According to the firm’s daily trading summary, ARK funds bought more shares of crypto exchange Coinbase Global Inc on Friday, selling shares of electric car maker Tesla.
On Friday, ARK bought 187,078 shares of Coinbase, which debuted on the Nasdaq earlier this week, for nearly $64 million at the day’s closing price of $342.
There were 134,541 Tesla shares sold at the end of Friday for $99.5 million. Tesla still holds the leading position among the company’s fixed assets by value.
The funds were added to ARK’s innovation fund, the Next-generation Internet ETF, and the Financial Technology Innovation ETF.
Coinbase’s purchases add up to 341,186 shares purchased on Thursday and 749,205 shares purchased on Wednesday.
ARK sold shares of Tesla from its flagship fund and the Next Generation Internet ETF.
Betting on Coinbase gives ARK more indirect access to cryptocurrencies in addition to its big bets on companies like Tesla, which recently invested in Bitcoin and said it would accept Bitcoin as payment for its cars.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
