Cathie Wood, CEO of ARK Invest, does not appear to have been persuaded by recent crypto regulatory action, purchasing another $19.9 million shares of Block Inc. shortly after purchasing $21 million in Coinbase stock.
Wood’s recent buying frenzy comes despite the US Securities and Exchange Commission suing two of the industry’s heavyweights, Binance and Coinbase, last week for, among other things, providing unregistered securities.
According to ARK Invest Daily Trades, ARK Invest purchased 305,573 new shares in Block in six transactions between June 7-8, representing ARK’s fourth largest position at 4.81%.
240,174 new shares were added to its ARK Innovation (ARKK) ETF, 39,099 to ARK Next Generation Internet (ARKW), and 26,300 to ARK Fintech Innovation.