ARK buys another $64 mln in Coinbase shares, sells $99.5 mln of Tesla shares

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Cathie Wood’s ARK funds bought more shares of cryptocurrency exchange Coinbase Global Inc (COIN.O) on Friday while selling shares of electric carmaker Tesla (TSLA.O), according to the firm's daily trade summary.

The bet on Coinbase gives ARK more indirect exposure to cryptocurrencies on top of its big bets on the likes of Tesla, which recently invested in bitcoin and said it would accept the cryptocurrency as payment for its cars.

Celebrity fund manager Wood gained prominence last year among retail investors and managed to attract a steady pile of cash into her red-hot funds.

 

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