Cathie Wood’s ARK loads up crypto bags, buys $19.9M Block shares
Just days after buying $21 million of Coinbase shares, ARK Invest CEO Cathie Wood has added another $19.9 million in Block Inc. shares across its ETFs. ARK Invest CEO Cathie Wood doesn’t appear to have been swayed by recent crypto regulatory action, after buying another $19.9 million shares of Block Inc. right after buying $21 million of shares in Coinbase. Wood’s latest buying spree comes despite the United States Securities Commission suing two of the industry’s exchange heavyweights — Binance (June 5) and Coinbase (June 6) for offering what the regulator considers to be unregistered securities, among other things. Coinbase's share price has been depressed in the days following the SEC lawsuit, however, Block Inc.'s shares saw a sharp rise in that same time period. ARK Invest’s 305,573 new shares of Block came across six buys between June 7-8, which now represents ARK’s fourth largest holding at 4.81%, according to ARK Invest Daily Trades. Of the new shares , 240,174 were ...