Cathie Wood, Bullish On Bitcoin, Lifts Coinbase Stake Above $1B, Snaps Up More UiPath Shares

Cathie Wood-led Ark Investment Management on Thursday snapped up more shares in Coinbase Global Inc COIN on the dip on Thursday.

Ark Invest bought 60,813 shares, estimated to be worth about $13.5 million in Coinbase on the day shares of the company closed 1.1% lower at $221.85.

Wood’s firm deployed the Ark Innovation ETF ARKK to buy the shares of the cryptocurrency exchange. The investment firm also holds the shares of the company via the Ark Next Generation Internet ETF ARKW and the Ark Fintech Innovation ETF ARKF.

See Also: Cathie Wood Expects Bitcoin To Reach $500,000

Ark's COIN stake is currently valued above $1 billion. In comparison, Ark Invest holds about 4.86 million shares, worth about $2.9 billion, in Tesla Inc TSLA, its largest holding.

The investment firm also snapped up 1.08 million shares, estimated to be worth about $80.07 million in New York-based software automation company UiPath Inc PATH on the day shares popped higher.

Shares of the company closed 7.7% higher at $74.03 on Thursday.

See Also: Cathie Wood Loads Up Heavily On Debutant Uipath, Trims Tesla

The investment firm holds the shares of the company in all six active ETFs but deployed only four of them — the Ark Genomic Revolution ETF ARKG, the Ark Autonomous Technology & Robotics ARKQ, ARKK and ARKW — to buy the shares on Thursday.

ARKG bought 242,492 shares, ARKK bought 604,635 shares, ARKQ bought 87,472 shares, ARKW bought 147,038 shares on Thursday.

On a consolidated basis, Ark held 7.38 million shares worth $506.8 million in UiPath, as of Thursday. 

The products of the Bucharest, Romania-based software company are used by organizations to help efficiently automate their various business processes. 

Some of the other key Ark Invest sells on Thursday include Intercontinental Exchange Inc ICE and buys include Pure Storage Inc PSTG.

Posted In: CryptocurrencySector ETFsMarketsTrading IdeasETFsARK Investment ManagementBitcoinCathie Wood